Swiss Exports Holds Up in December

Switzerland's exporters defied the record-strength of the Swiss franc in December for another month as Asian and Latin American countries bought more Swiss products., Reuters 2/3/2011 1:18:05 PM

Data showed that the trade surplus was CHF 1.3 billion in December. In real terms, exports grew 10.9% and imports by 10.5%. In November, exports had increased 7.7% and imports by 12.5%.

Switzerland's trade balance showed a deficit of CHF 3.8 billion in 2010, the Federal Customs Administration said. The balance was in CHF 4.6 billion surplus in 2009.

In 2010, exports grew by a real 7.4%, reversing last month's 14.3% drop. At the same time, imports advanced 8.4% after falling 9.9% in 2009.

Exports to Asia rose more than 17 percent in nominal terms, demand from Latin American countries was up nearly 15 percent. But sales to countries in the European Union -- Switzerland's main trading partner -- increased only 2.8 percent.

The franc has risen some 15 percent against the euro and around 10 percent against the dollar last year, hitting record highs against both currencies at the end of 2010.

Swiss Exports Holds Up in December