Switzerland Trade Surplus Narrows in February


Swiss exports fell in February as pharmaceuticals and machinery industries were hit by weaker global demand and strong Swiss franc. Exports from Switzerland fell by a real 5.3 percent year-on-year in February to 16.145 billion Swiss francs. Adjusted for one working day less than in February last year, exports were down 0.9 percent to 17.2 billion francs.

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. 
 

Federal Customs Administration | Nuno Fontes | nuno@tradingeconomics.com
3/21/2013 9:32:20 AM