Switzerland Trade Surplus Widens In March
Switzerland trade surplus rose to CHF 3.10 billion in March of 2017 from CHF 2.08 billion a year earlier and above market expectations of CHF 3.01 billion, as exports increased more than imports. Considering the first three months of 2017 the trade surplus was recorded CHF 11 billion.
Year-on-year, sales went up by 10.2 percent to CHF 19.60 billion, driven by metals (21.8 percent), textiles, clothing and footwear (32.9 percent), pharmaceuticals (12.2 percent), machinery and electronics (6.4 percent), watches (7.6 percent), precision instruments (13.4 percent), jewelry and bijouterie (4.9 percent), food, beverages and tobacco (1.1 percent), plasticts (5.4 percent), and paper and graphic products (4.0 percent). In contrast, exports decreased for: vehicles (-11.2 percent).
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Among major trade partners, sales increased to: the EU countries (13.7 percent), Japan (20.1 percent), Hong Kong (17.0 percent), the US (11.1 percent), South Africa (38.5 percent), China (25.0 percent), Singapore (5.5 percent), South Korea (19.5 percent), India (9.0 percent), and Australia (0.7 percent).
In contrast, sales went down to the Middle east (-20.5 percent), Indoenesia (-34.5 percent), Canada (-4.2 percent), Brazil (-8.8 percent), Nigeria (-50.5 percent), and Egypt (-4.8 percent).
Purchases rose 5.0 percent to CHF 16.50 billion, boosted by energy products (42.0 percent), machinery and electronic (10.5 percent), metals (12.3 percent), textiles, clothing and footwear (18.4 percent), watches (10.3 percent), plastic products (8.6 percent), food, beverages and tobacco (7.1 percent), chemicals and pharmaceuticals (0.7 percent), and paper and graphic products (0.4 percent). In contrast, import fell for: jewelry and bijouterie (-7.6 percent) and vehicles (-6.3 percent).
In February 2017, trade surplus was registered CHF 3.12 billion.