Exports of pharmaceuticals and chemicals, the country's biggest export category, fell sharply by 8.4 percent, while machines and electronic devices dip 4.1 percent. Watch exports were down 7.1 percent as exports to important markets such as Hong Kong and China declined. Working day adjusted, exports were down 0.9 percent while imports rose 3.0 percent.
Exports to Germany, Switzerland's biggest trading partner, fell 3.6 percent. Sales of Swiss products to Asia were down 7.2 percent mainly due to weaker demand in India, China and Hong Kong. Overall, Switzerland ran a real trade surplus of 2.1 billion francs and a seasonally adjusted surplus of 2.4 bilion francs in February.