Switzerland Trade Surplus Widens in April

Switzerland trade surplus increased to CHF2.86 billion in April of 2015 from CHF2.55 billion a year earlier and beating market forecasts, as imports fell more than exports.

In April, exports declined by 5.1 percent year-on-year to CHF 16.29 billion, due to lower sales of  chemicals and pharmaceutical industry (-12.7 percent), including, pharmaceuticals, vitamin, diagnostics (-14.3 percent), medication (-16.7 percent), active pharmaceutical ingredients (-34.9 percent), raw materials and commdities (-5.6 percent), unshaped plastics (-11.8 percent) and essential oils & perfume (-10.8 percent). Lower outbond shipments were also seen for: machinery and electronic industry (-2.2 percent); engineering industries (-1.0 percent); electrical engineering and electronics (-4.5 percent); watchmaking (-0.8 percent); metallurgy (-3.5 percent); food and luxury items (-8.2 percent); plastics industry (-11.2 percent) and paper and graphic arts (-7.0 percent). In contrast, exports  increased for: precision instruments (+1.1 percent); rolling stock (+8.6 percent) and textiles, clothing and footwear (+2.6 percent).

Sales declined to the EU countries (-8.4 percent), the US (-5.2 percent), Hong Kong (-29.4 percent), Japan (-13.0 percent), the Middle East countries (-4.8 percent) and Africa (-31.1 percent). In contrast, outbound shipments increased to China (+22.0 percent), India (+21 percent), Taiwan (+171 percent) and Oceania (+8.1 percent).

Imports dropped by 8.1 percent year-on-year to CHF 13.44 billion. Purchases fell for all categories:  energy sources (-18.7 percent, including crude oils and commodities (- 44.4 percent) and fuels (- 4.5 percent). Imports of consumer goods declined by 6.4 percent, capital goods (-3.8 percent) and raw materials (-13.0 percent).

In March 2015, Switzerland registered a revised CHF 2.49 billion trade surplus.

Switzerland Trade Surplus Widens in April

Swiss customs Administration l Rida Husna l rida@tradingeconomics.com
5/28/2015 8:09:53 AM