Swiss Trade Surplus Narrows Further in March
The trade surplus decreased 10.6 percent in March of 2014 from the previous month to CHF 2.1 billion as imports rose at a higher pace than exports. Compared with a year earlier, the trade balance increased by 17.2 percent, driven by stronger sales of pharmaceuticals and chemicals products, and machinery to Europe and China.
4/24/2014 11:03:05 AM
In March of 2014, exports amounted to CHF 17.4 billion, increasing 3.5 from the previous period, and 4.0 percent compared with the same month of 2013. In real terms, shipments of chemical and pharmaceutical goods increased 9.9 percent from a year ago, and machinery and electronics products rose 7.1 percent. Shipments to the EU recorded the highest growth rate (+9.0 percent yoy) while exports to Asia declined 1.2 percent.
Imports rose by 11.1 percent from the previous month to CHF 15.3 billion and 2.4 percent over a year earlier. Purchases of raw materials and semi-products increased 7.1 percent year-on-year, and goods equipment rose 1.9 percent. Imports from the EU increased 2.4 percent, and 6.0 percent from Asian countries.
During the first quarter of 2014, the Swiss trade improved compared with a year earlier, since exports (+4.4 percent) were twice dynamic than imports (+2.2 percent). The trade balance increased to CHF 6.9 billion from a CHF 5.7 billion.