Switzerland Trade Surplus Increases in November
Switzerland trade surplus widened to CHF 3.87 billion in November of 2014 from CHF 2.08 billion a year earlier, as imports declined at a faster pace than exports.
In November, exports decreased 0.2 percent year-on-year to CHF 18.05 billion, mainly due to lower sales of machinery for paper/graphics industry (-13.4 percent); iron and steel (-12.8 percent); non-electric engines (-12.4 percent); other machine tools (-12.1 percent); essential oils, flavors and fragrances (-13.4 percent); power generator, electric motors (-10.8 percent); agro-chemical products (-11.0 percent); electrical and electronic products (-10.8 percent); pharmaceutical ingredients (-9.4 percent) and cheese (-1.2 percent). In contrast, exports were higher for aircraft and spacecraft (+44.9 percent); aluminium (+16.7 percent); tobacco (+11.9 percent); rail vehicles (+10.1 percent); immunological products (+6.9 percent); medication (+4.9 percent); machine tools for metal working (+8.8 percent); household appliances (+3.6 percent) and chocolate (+4.9 percent).
Sales to the US grew by 11 percent while those to Asia increased slightly by 0.1 percent. Exports to the EU countries declined by 1.5 percent with those to Austria decreasing the most (-17.8 percent), followed by Greece (-17.2 percent), France (-16.9 percent) and Finland (-12.8 percent). Outward shipments to Africa rose by 17.3 percent, while those to Oceania fell by 21.0 percent.
Imports declined 11.4 percent year-on-year to CHF 14.18 billion. All inbound shipments were lower: consumer goods (-12.8 percent), raw materials and semi-finished products (-8.5 percent) and capital goods (-5.1 percent). Purchases of energy also fell significantly by 31.7 percent.
In October 2014, Switzerland registered a revised CHF 3.22 billion trade surplus.
12/18/2014 12:03:14 PM