The Swiss trade surplus narrowed to CHF 1.39 billion in January 2019 from a marginally revised CHF 1.76 billion in the previous month. It was the smallest trade surplus since September.
Exports went up 1.1 percent from a month earlier to CHF 18.9 billion in January, driven by sales of chemical and pharmaceutical products (0.7 percent); machinery and electronics (1.5 percent); watchmaking (4.2 percent); precision instruments (0.4 percent); metals (0.9 percent); and food, beverages and tobacco (2.7 percent). By contrast, exports of jewellery dropped 4.2 percent.
Among major trade partners, exports rose to Germany (4.4 percent), the Netherlands (7 percent), Austria (16.8 percent), China (11.1 percent) and Japan (10.3 percent). Meanwhile, there were declines in exports to the US (-3.7 percent), Italy (-0.1 percent), France (-8.3 percent), the UK (-11.9 percent) and Spain (-7.5 percent).
Imports increased at a faster 3.4 percent to CHF 17.5 billion in January, boosted by purchases of chemical and pharmaceutical products (3.5 percent); machinery and electronics (4.9 percent); jewellery (12.8 percent); metals (2.1 percent); and textiles, clothing, footwear (0.5 percent). By contrast, imports of vehicles slumped 3.1 percent.
Among major trade partners, imports from the Euro Area rose 2 percent, namely from Belgium (11.5 percent), Ireland (25.3 percent), Austria (7.3 percent) and Spain (0.2 percent); while decreases were seen in purchases from Germany (-0.3 percent), France (-5.5 percent), Italy (-0.2 percent) and the Netherlands (-1.2 percent). In addition, imports increased from China (14.1 percent) and the UAE (73.3 percent), but fell from the US (-0.5 percent) and the UK (-32.4 percent).
2/19/2019 10:47:12 AM