Swiss Trade Surplus Widens in February
The Swiss trade surplus widened to CHF 3.2 billion in February 2018 from a downwardly revised CHF 1.1 billion in the previous month.
Exports increased by 1.8 percent from the previous month to CHF 19.33 billion in February, mainly due to higher sales of: chemical and pharmaceutical products (4.1 percent); jewelery and bijouterie (22.6 percent); and food, beverages and tobacco (2.7 percent). In contrast, exports fell for: machinery and electronics (-2.3 percent); watches (-0.7 percent); precision instruments (-2.3 percent); and metals (-2.1 percent).
Among major trade partners, exports rose to the EU (3.1 percent), mainly Germany (1.2 percent), Italy (10.3 percent), France (8.9 percent) and Spain (39.1 percent). Meanwhile, sales went down to the US (-0.2 percent), the UK (-23.6 percent), China (-13 percent) and Japan (-6.4 percent).
Imports declined 9.8 percent to CHF 16.12 billion, dragged by a decrease in purchases of: chemical and pharmaceutical products (-20 percent); machinery and electronics (-5.6 percent); metals (-2.1 percent); vehicles (-33.6 percent); and textiles, clothing, footwear (-1.3 percent). In contrast, imports of jewelery and bijouterie went up 2.9 percent.
Among major trade partners, imports dropped from the EU (-6.5 percent), mainly from Germany (-1.7 percent), Italy (-7.4 percent), France (-4.5 percent), Spain (-18.3 percent) and the UK (-26.6 percent); and the US (-45.3 percent). Imports from China rose 2.8 percent.
3/20/2018 12:03:03 PM