Swiss Exports Declines in December

Exports from Switzerland fell in December, hurt by turmoil in the Euro Zone which slashed demand for Swiss goods and drove the franc currency to unfavorably strong levels as investors looked for a safe place to park their money., ABS 2/2/2012 2:55:20 PM

In December, exports fell to CHF 15.6 billion, but grew 1.6 percent compared to a year earlier. Imports fell 5.3 percent year-on-year to CHF 13.6 billion.

Switzerland posted an all-time high trade surplus in 2011, helped by strong trade in chemicals and chemical products, the Federal Customs Administration said Thursday.

The trade balance resulted in a surplus of CHF 23.8 billion in 2011, which is 22 percent higher than 2010. Chemical industry was the largest contributor to the favorable outcome with a trade balance of CHF 37 billion.

In 2011, exports climbed 2.1 percent, slower than 7.2 percent surge in 2010. Imports, meanwhile, fell 0.1 percent after 8.6 percent increase in the previous month.

Separately, the Federation of Swiss Watch Industry FH said that watch exports climbed 21 percent year-on-year in December, taking the total value of watch exports in 2011 to CHF 19.3 billion. This was 19.2 percent higher than a year earlier.

Swiss Exports Declines in December