Switzerland Trade Surplus Jumps to Record High
Switzerland trade surplus widened to CHF 3.98 billion in July of 2014 from a revised 1.41 billion in a month earlier and from CHF 2.52 billion in the previous year, touching a record high. Exports rose faster than imports driven by a surge in shipments of jewelry and chemical and pharmaceuticals products.
8/21/2014 11:34:10 AM
Exports were recorded at CHF 19.3 billion in July of 2014, increasing 5.0 percent over a year earlier. Shipments were rising in all sectors except for paper industry and graphic arts, which declined for the fifth consecutive time. Sales of jewelry increased 24 percent to CHF 177 million, while exports of chemical and pharmaceutical products grew 8 percent to CHF 596 million. Sales of precision instruments rose 8 percent, followed by beverages and tobacco (+3 percent) and metallurgy, watchmaking, machinery industry and electronics (+2 percent).
Imports shrank 3.5 percent year-on-year to CHF 15.3 billion in July of 2014, driven mostly by lower purchases of energy products (-20 percent); consumer goods (-4 percent), namely medical drugs (+17 percent); food, beverages and tobacco (-7 percent) and capital goods (-0.1 percent).
During January to July of 2014, the country posted a CHF 17.7 billion trade surplus.