Swiss Trade Surplus Narrows 1.9% in December
Swiss trade surplus narrowed 1.9 percent to CHF 2.63 billion in December 2017 from CHF 2.68 billion in the same month a year earlier and below market expectations of CHF 2.75 billion.
Year-on-year, exports increased by 3.6 percent to CHF 17.1 billion in December, mainly due to a rise in sales of chemical and pharmaceutical products (0.3 percent); precision instruments (8.8 percent); jewelry and bijouterie (19.6 percent); machinery and electronics (3 percent); watches (0.7 percent); metal (9.7 percent), and food and beverages (4.6 percent).
Among major trade partners, sales increased to the US (17.3 percent); China (21.3 percent), and Hong Kong (16.8 percent). Meanwhile, sales went down to Japan (-27.7 percent); EU (-1.3 percent), mainly to Germany (-4.6 percent); France (-4.6 percent), and Italy (-0.7percent).
Imports rose 4.7 percent to CHF 14.48 billion, boosted by an increase in purchases of machinery and electronics (8.7 percent); food, beverages and tobacco (2.2 percent); metals (14.9 percent); textiles, clothing, footwear (4.9 percent), and jewelry and bijouterie (78.7 percent). In contrast, import fell for both chemical and pharmaceutical products (-10.7percent) and vehicles (-5.9 percent).
Among major trade partners, purchases went up from the EU (0.5 percent), mainly from Germany (2.5 percent), France (12.2 percent), and Italy (14.4 percent); China (5.9 percent); Hong Kong (67.4 percent), and Japan (14.9 percent). In contrast, purchases fell from the US (-1.3 percent) .
Considering full 2017, the trade surplus declined to CHF 34.84 billion from CHF 36.93 billion in the same period of 2016.
1/30/2018 8:54:39 AM