Switzerland Trade Surplus Little Changed in June


Switzerland trade surplus came in at CHF3.55 billion in June of 2016, compared to a CHF3.50 billion a year earlier and market expectations of a CHF3.49 billion, as exports rose at the same pace as imports.

Outbound shipments increased by 1.5 percent year-on-year to CHF18.22 billion in June, following an 11.5 percent growth in May. Sales rose for chemicals and pharmaceuticals (9.5 percent), followed by machinery and electronics (+3.6 percent), precision instruments (+6.9 percent), metals (+1.5 percent), food & beverages (+0.3 percent); textiles, clothing, footwear (+2.7 percent), plastics (+3.9 percent) and paper and graphic products (+4.9 percent). In contrast, exports fell for: watches (-16.1 percent), jewelry and bijouterie (-16.1 percent) and vehicles (-27.1 percent). Among major trade partners, exports rose to the Eurozone (+3.2 percent), followed by other EU countries sales (+4.0 percent), China (+42.2 percent), Japan (+11.5 percent), India (+8.3 percent). Sales to the US also increased by 2.7 percent. 

Imports also went up 1.5  percent year-on-year to CHF14.68 billion, compared to an 11.5 percent rise in a month earlier, mainly driven by chemicals and pharmaceuticals (+1.1 percent); machinery and electronics (+5.0 percent), vehicles (+10.7 percent), food & beverages (+3.6 percent); textiles, clothing, footwear (+4.2 percent), precision instruments (+6.5 percent) and plastics (+4.6 percent). Among trading partners, imports were higher from other EU countries were up 10.6 percent and the US (+38.6 percent).

In May 2016, trade surplus was marginally revised to CHF3.78 billion. 

Considering January to June 2016, sales rose 5.1 percent to CHF105.34 billion while imports increased by 3.9 percent to CHF86.0 billion. That brought a trade surplus of CHF19.3 billion during the period, compared to a CHF19.1 billion surplus in the same period a year earlier.

Switzerland Trade Surplus Little Changed in June


Swiss Customs Administration l Rida Husna | rida@tradingeconomics.com
7/21/2016 12:37:37 PM