Swiss Trade Surplus Rises In March


Swiss exports saw a marked improvement in the first quarter of 2010, government data Thursday showed, in spite of a rising local currency.

In the first quarter, exports rose 3.3% sequentially, faster than the 2% growth in the fourth quarter. Imports rose 3%.

The watch and metallurgical sector made gains, exporting about a third more, even with the Swiss franc's appreciation versus the euro. It was the first quarter to show growth since the middle of 2008.

The major increase in demand was witnessed in Asia, though all regions showed improvements.

Imports of consumer goods fell by about 4 per cent, though raw materials into Switzerland showed increases. The Alpine state's overall balance of trade hit a surplus of 5.7 billion francs (5.3 billion dollars).

Swiss watch exports in March were worth 1.2 billion francs (1.12 billion dollars), up almost 33 per cent compared to the same month in 2009, the Federation of the Swiss Watch Industry reported separately.

Compared to the first quarter of 2009, the first three months of this year were showing an upturn of 16.6 per cent. The numbers were a return to 2007 levels.

Like in overall trade, Asia remained the main growth region for the watch industry, while the United States was also showing a rebound.

 


TradingEconomics.com
4/22/2010 9:46:51 AM