Switzerland Trade Surplus Narrows To Near 2-1/2 Year Low
Switzerland trade surplus decreased to CHF 1.97 billion in April of 2017 from CHF 2.42 billion a year earlier as exports fell more than imports. Year-on-year, sales went down by 10.4 percent to CHF 16.15 billion while purchases fell 9.1 percent to CHF 14.18 billion.
Year-on-year, sales went down by 10.4 percent to CHF 16.15 billion, due to a decrease in sales of metals (-4.9 percent), pharmaceuticals (-11.5 percent), machinery and electronics (-12.6 percent), watches (-5.7 percent), precision instruments (-13.1 percent), jewelry and bijouterie (-6.6 percent), food, beverages and tobacco (-5.9 percent), plastics (-17.1 percent), and vehicles (-20.6 percent). In contrast, exports increased for: textiles, clothing and footwear (6 percent) and paper and graphic products (4.0 percent).
Among major trade partners, sales decreased to: the EU countries (-11.5 percent), Japan (-9.1 percent), Hong Kong (-11.60 percent), the US (-11.0 percent), South Africa (-35.5 percent), Singapore (-2.8 percent), South Korea (-7.7 percent), India (-7.7 percent), Australia (-0.1 percent), the Middle east (-25.7 percent), Indonesia (-21.9 percent), Brazil (-12.0 percent), Nigeria (-24.3 percent), and Egypt (-36.3 percent).
In contrast, sales went up to China (9.0 percent) and Canada 12.8 percent).
Purchases fell 9.1 percent to CHF 14.18 billion, due to a decrease in purchases of plastics (-9.5 percent), machinery and electronic (-9 percent), metals (-5.4 percent), watches (-25.4 percent), food, beverages and tobacco (-4.6 percent), chemicals and pharmaceuticals (-15.7 percent), paper and graphic products (-11.5 percent), jewelry and bijouterie (-14.5 percent), and vehicles (-2.3 percent).
In contrast, import rose for: energy products (15.2 percent) and textiles, clothing and footwear (2.6 percent).
In March 2017, trade surplus was registered CHF 3.10 billion.
5/23/2017 8:32:58 AM