Swiss Trade Surplus Narrows to 4-Year Low in December

In December, Switzerland's trade surplus narrowed to 0.5 billion Swiss francs, down from 2.1 billion registered in November as imports grew more than exports.

In December, imports were up 8.4 percent to 14.187 billion francs, with consumer goods and investment goods growing double-digit. A 3 percent rise in prices of imported goods also helped to boost imports. Purchases from Asia and Europe grew 17 percent and 9 percent respectively and those from North America rose 1 percent while inflows from Africa fell 12 percent.

Exports rose by 5.2 percent to 14.69 billion francs. Strong demand was recorded for precision instruments, machines and electronic devices, pharmaceuticals and chemicals. Exports to Europe, Switzerland's biggest trading partner, rose 6.4 percent, to Africa 22 percent and to Latin America 7 percent.

The prices of exported goods decreased by 2.8 percent, while imported products were 3.0 percent more expensive. Excluding pharmaceutical goods, export prices rose by 1.9 percent (real: +3.2 percent) and imports by 3.5 percent (real: +4.7 percent).

In 2013, Switzerland's foreign trade showed little dynamics as exports and imports remained close to the previous year's figures. However, the trade surplus reached a new all-time high of 24 billion Swiss francs.

Swiss Trade Surplus Narrows to 4-Year Low in December

Nuno Fontes |
2/6/2014 11:31:50 AM