Swiss Exports Rises in January

Switzerland's exports recorded robust growth in January, fueled by surging demand from Germany, China and the U.S., data showed on February 22., RTT News 2/23/2011 7:53:38 PM

Exports climbed 15.5% year-on-year in real terms in January after 11.2% growth in December, the Federal Customs Administration said. Based on data adjusted for seasonal variations, exports rose 4.3% month-on-month.

In real terms, exports grew 9.3% year-on-year after adjusting for working day variations. This followed a 7.1% increase in December.

Strong recovery in Germany, China and the U.S. supported Swiss export sector at the beginning of the year, with the three countries together accounting for 75% of the total export growth.

Exports to China surged 38.4% annually, while there was a 6.7% increase exports to the U.S. Shipments to Germany climbed 10.2% from last year. Vibrant demand from Asia and Latin America also boosted growth.

At the same time, imports climbed 9.8% year-on-year in January, slower than a 10.7% growth in December. This was the slowest growth in three months.

The trade surplus increased to CHF 1.96 billion from CHF 1.3 billion in December. However, the surplus was 17.9% below last year's level.

Earnings from iron and steel exports rose 41.5%, while there was a clear decline in earning from the country most profitable chemical industry.

Swiss Exports Rises in January