Switzerland Trade Surplus Widens in December

Switzerland trade surplus rose to CHF 2.70 billion in December of 2016 from CHF 2.51 billion a year earlier as exports rose more than imports. Year-on-year, sales increased by 2.1 percent to CHF 16.5 billion while purchases increased by 1 percent to CHF 13.8 billion.

Year-on-year, exports rose by 2.1 percent to CHF 16.5 billion, mainly driven by chemical- pharmaceutical products (1.5 percent), machinery and electronics (8.3 percent), precision instruments (1.1 percent), metals (10.3 percent), food, beverages and tobacco (1.9 percent), textiles, clothing and footwear (27.7percent). In contrast, outbound shipments went down for: watches (-4.6 percent), vehicles (-15.7 percent), jewelry and bijouterie (-5.4 percent);  and paper and graphic products (-7.5 percent). Among major trade partners, sales were higher to the EU countries (2.4 percent), Japan (54.9 percent), Singapore (3.2percent), the US (5.8 percent), South Korea (14.2 percent), Taiwan (7.4 percent), and Thailand (25.2 percent). In contrast, sales fell to China (-7.8 percent), India (-15.9 percent), Hong Kong (-18.3 percent), Vietnam (-26.8 percent), Malaysia (-5,2 percent), Canada (-10.8 percent), Brazil (-15.4 percent), South Africa (-14.1 percent), and Australia (-20.8 percent).

Imports increased by 1 percent to CHF 13.8 billion, due to chemicals and pharmaceuticals (5.5 percent), vehicles (+15.8 percent), metals (+7 percent), textiles, clothing and footwear (+13.8 percent), precision instruments (+4.3 percent) and plastics (+1.7 percent). In contrast, imports fell for : machinery and electronics (-0.3 percent), jewelry and bijouterie (-28.3 percent), paper and graphic products (-5.3 percent), watches (-14 percent),  food, beverages and tobacco (-0.3 percent), and energy carriers (-13.1 percent),
In November 2016, the trade surplus was downwardly revised to CHF 3.50 billion.
Considering January to December of 2016, the trade surplus reached an all time high of CHF 37.50 billion, with exports increasing by 3.8 percent from the previous year to a record of CHF 210.70 billion and imports growing by 4.1 percent to CHF 173.2 billion.

Federal Customs Administration of Switzerland l Chusnul Ch Manan| chusnul@tradingeconomics.com
1/26/2017 12:36:35 PM