Switzerland Trade Surplus Smallest in 4 Months


The Swiss trade surplus narrowed to CHF 1.7 billion in May 2019 from CHF 1.9 billion in the previous month. This was the smallest trade surplus since January, as exports fell while imports rose.

Exports dropped 0.5 percent from a month earlier to CHF 18.9 billion in May, dragged down by sales of chemical and pharmaceutical products (-2.4 percent); food, beverages and tobacco (-2.5 percent), and metals (-1.3 percent). By contrast, sales increased for machinery and electronics (2.7 percent); watchmaking (8.9 percent); precision instruments (4.0 percent), and jewellery (8.8 percent).

Among major trade partners, exports declined to the US (-1.0 percent); Spain (-10.2 percent); the Netherlands (-2.3 percent); Ireland (-18.2 percent); Austria (-26.7 percent); Singapore (-0.7 percent), and South Korea (-4.2 percent). Meantime, there were increases in exports to China (8.8 percent); Japan (10.3 percent); Germany (2.2 percent); France (2.6 percent), and Italy (5.6 percent).

Imports increased 0.9 percent to CHF 17.2 billion, mainly due to higher purchases of pharmaceutical products (5.3 percent); vehicles (0.8 percent), and metals (2.0 percent). On the other hand, imports decreased for: machinery and electronics (-1.8 percent); jewellery (-8.6 percent); textiles, clothing, footwear (-0.1 percent), and food, beverages and tobacco (-8.3 percent)

Among major trade partners, imports rose from the US (14.7 percent); Ireland (49.9 percent); Belgium 17.6 percent); Austria (8.9 percent), and France (9.7 percent); while imports went down from Japan (-6.9 percent); China (-3.6 percent); Germany (-0.4 percent); Italy (-1.2 percent), and Spain (-19.9 percent).

Considering the first five months of the year, the trade surplus widened to CHF 9.2 billion from CHF 6.8 billion in the same period of 2018.


Switzerland Trade Surplus Smallest in 4 Months


Swiss Customs Administration l Chusnul Ch Manan | chusnul@tradingeconomics.com
6/20/2019 12:57:03 PM