Switzerland Trade Surplus Beats Expectations in January

Switzerland trade surplus increased to CHF3.51 billion in January of 2016 from CHF3.31 billion a year earlier and above market consensus, as imports fell more than exports.

Year-on-year, outbond shipments decreased by 1.0 percent to CHF16.30 billion in January. Sales decreased for: machinery and electronics (-10.6 percent); watches (-8.0 percent), metal (-4.3 percent), vehicles (-2.1 percent), plastics (-4.7 percent) and paper & graphic products (-3.5 percent). In contrast, sales rose for: chemical and pharmaceuticals products (+1.7 percent), costumes & jewelry (+23.9 percent), food & beverages (+3.4 percent) and textiles (+7.6 percent).

Exports dropped to Asia (-4.8 percent), Africa (-13.1 percent), Russia (-17.4 percent) and Oceania (-12.4 percent), sales rose to Europe (+1.0 percent), the EU countries (+2.3 percent), Middle East (+2.0 percent) and North America (+3.2 percent, including to the US +3.5 percent).

Imports fell by 2.8 percent to CHF 12.78 billion. Purchases dropped for: chemical and pharmaceutical products (-1.7 percent), machinery and electronics (-4.6 percent), metal products (-7.1 percent), food and beverages (-2.2 percent), textiles (-4.5 percent), fuels (-28.7 percent), paper & graphic products (-4.4 percent), plastics (-2.3 percent) and watches (-11.4). In contrast, imports rose for: vehicles (+35.2 percent and precision instruments (+2.2 percent).

In December 2015, the country registered an upwardly revised CHF2.59 billion trade surplus.

Switzerland Trade Surplus Beats Expectations in January

Seco | Rida Husna | rida@tradingeconomics.com
2/18/2016 11:48:47 AM