Switzerland Posts Largest Trade Surplus in 3 Months


The Swiss trade surplus widened sharply to CHF 2.88 billion in September 2019 from a downwardly revised CHF 1.11 billion in the previous month. This was the largest trade surplus since June, as exports rose while imports fell.

Exports increased 8.2 percent from a month earlier to CHF 20.3 billion in September, due to higher sales of chemical and pharmaceutical products (18.0 percent), jewellery (27.6 percent), and metals (2.1 percent). Conversely, sales declined for machinery and electronics (-1.9 percent); food, beverages and tobacco (-3.5 percent); watchmaking (-0.2 percent), and precision instruments (-0.7 percent).
 
Among major trade partners, exports increased to Japan (9.5 percent), the US (33.0 percent), the UK (5.5 percent), Germany (2.7 percent), Italy (1.3 percent), France (4.5 percent), Belgium (25.5 percent), Netherlands (15.9 percent), Austria (6.2 percent), the Middle East (16.9 percent), and Singapore (3.3 percent). Meanwhile, there were decreases in exports to China (-11.9 percent), Spain (-7.1 percent), Hong Kong (-0.9 percent), and Canada (-13.1 percent).

Imports dropped 1.4 percent to CHF 17.4 billion, mainly due to lower purchases of chemical and pharmaceutical products (-1.4 percent); jewellery (-7.4 percent); metals (-0.3 percent), and energy products (-3.9 percent). On the other hand, imports rose for: machinery and electronics (2.7 percent); food, beverages and tobacco (0.8 percent); vehicles (7.0 percent), and textiles, clothing, footwear (4.2 percent).

Among major trade partners, imports were down from Spain (-9.9 percent), the Netherlands (-7.5 percent), Belgium (-10.0 percent), the UK (-4.0 percent), China (-3.8 percent), and Japan (-2.6 percent). By contrast, imports went up from France (4.5 percent), Austria (4.5 percent),  Italy (8.4 percent), the US (8.9 percent) and the Middle East (15.1 percent), while those from Germany was unchanged..
 
Considering the first nine months of the year, the trade surplus widened to CHF 18.3 billion from CHF 14.1 billion in the same period of 2018.
 




Switzerland Posts Largest Trade Surplus in 3 Months


Swiss Customs Administration l Chusnul Ch Manan | chusnul@tradingeconomics.com
10/17/2019 9:21:49 AM