Switzerland Trade Surplus Narrows in March



Switzerland trade surplus decreased to CHF2.16 billion in March of 2016 from CHF2.36 billion a year earlier as exports fell while imports rose.

Year-on-year, exports dropped by 1.2 percent to CHF17.81 billion. Sales declined for: chemicals and pharmaceuticals (-0.2 percent), watches (-16.8 percent), precision instruments (-1.7 percent) and vehicles (-13.5 percent). In contrast, outbound shipments rose for: machinery and electronics (+2.9 percent), metals (+4.1 percent), costume & jewelry (+5.5 percent), good & beverages (+8.1 percent), plastics (+1.8 percent); textiles, clothing, footwear (+7.8 percent) and paper and graphic products (+1.8 percent).

While sales fell to Africa (-10.5 percent), those to the EU countries grew by 4.8 percent, followed by Asia (+3.4 percent, including to China: +8.2 percent, Singapore: +21.4 percent and Vietnam: +35.8 percent), the Middle East (+10.0 percent), North America (+4.1 percent, including to the US: +2.0 percent)) and Oceania (+23.7 percent). 

Imports rose 4.3 percent to CHF15.65 billion, mainly driven by chemicals and pharmaceuticals (+22.4 percent), nachine and electronics (+1.1 percent), vehicles (+3.5 percent), metals (+4.1 percent), food & beverages (+1.5 percent); textiles, clothing, footwear (+0.9 percent), precision instruments (+2.2 percent), watches (+6.0 percent) and plastics (+4.3 percent). In contrast, inbound shipments dropped for: costumes & jewelry (-24.9 percent) and paper and graphic products (-1.0 percent).

In February, trade surplus was marginally revised to CHF4.02 billion, the highest on record.

Considering the first quarter of 2016, exports fell by 1.4 percent to CHF51.78 billion while imports decreased by 1.8 percent to CHF42.13 billion. That brought the trade surplus at CHF9.6 billion. During the same period in 2015, trade surplus was at CHF7.9 billion.


Switzerland Trade Surplus Narrows in March


AFD l Rida Husna | rida@tradingeconomics.com
4/21/2016 8:56:59 AM