Switzerland Trade Surplus Widens in August


Switzerland trade surplus increased to CHF 3.02 billion in August of 2016 from CHF 2.86 billion a year earlier but below market expectations of a surplus CHF 3.27 billion. Exports grew by 12.0 percent to CHF 16.05 billion while imports went up 13.5 percent to CHF 13.03 billion.

In August, sales rose for: chemicals and pharmaceuticals (+31.0  percent),  precision instruments (+8.2 percent),  metals (+5.8 percent), jewelry and bijouterie (+6.9 percent), food & beverages (+1.1 percent), textiles, clothing and footwear (+11.3  percent), and  plastics (+4.0 percent). In contrast, outbond shipments dropped for machinery and electronics (-1.5 percent), watches (-8.8 percent),  vehicles (-31.2 percent) and paper and graphic products (-3.0 percent). Among major trade partners, sales were higher to the EU countries (+18.2 percent), followed by the US (+31.0 percent), Japan (24.7 percent), and China (+9.1 percent). In contrast, sales declined to South Africa (-17.1 percent) and Australia (-3.0 percent).  

Imports increased by 13.5  percent year-on-year to CHF 13.03 billion, mainly driven by chemicals and pharmaceuticals (+43.8 percent),  machinery and electronics (+6.4 percent),  vehicles (+15.9 percent), metals (+8.5 percent), textiles, clothing and footwear (+12.7 percent), food and beverages (+2.4 percent),  precision instruments (+6.8 percent), watches (+4.9 percent), plastics (+8.8 percent)  and paper and graphic products (+5.1 percent). Among trading partners, imports were higher from the EU countries (+16.1 percent), the USA (+33.5 percent), South Africa (+50.3 percent) and Australia (+9.8 percent). 

In July 2016, trade surplus was downwardly revised to CHF 2.81 billion.

Switzerland Trade Surplus Widens in August


Swiss Customs Administrations l Rida Husna | rida@tradingeconomics.com
9/20/2016 7:43:00 AM