Swiss Trade Surplus Largest in Nearly 2-1/2 Years


The Swiss trade surplus widened sharply to CHF 3.3 billion in June 2019 from a downwardly revised CHF 1.5 billion in the previous month. This was the largest trade surplus since January 2017, as exports rose while imports fell.

Exports increased 8.5 percent from a month earlier to CHF 20.4 billion in June, driven by sales of chemical and pharmaceutical products (23.8 percent). By contrast, sales decreased for machinery and electronics (-7.5 percent); food, beverages and tobacco (-1.3 percent); metals (-4.7 percent); watchmaking (-7.1 percent); precision instruments (-4.2 percent), and jewellery (-8.5 percent).

Among major trade partners, exports rose to the US (15.8 percent); Spain (13.8 percent); the Netherlands (18.7 percent); Ireland (9.1 percent); Austria (1.7 percent); Singapore (5.8 percent); Hong Kong (3.8 percent), and South Korea (2.6 percent). Meantime, there were decreases in exports to China (-4.8 percent); Japan (-3.4 percent); Germany (-0.6 percent); France (-1.5 percent), and Italy (-3.9 percent).

Imports declined 0.8 percent to CHF 17.1 billion, mainly due to lower purchases of machinery and electronics (-2.6 percent); jewellery (-23.1 percent); and metals (-1.7 percent). On the other hand, imports rose for: pharmaceutical products (6.0 percent); vehicles (2.8 percent); textiles, clothing, footwear (0.3 percent), and food, beverages and tobacco (2.7 percent)

Among major trade partners, imports went down from the US (-7.2 percent); China (-0.9 percent); Germany (-4.1 percent); France (-13.2 percent); Belgium (-17.2 percent); Italy (-1.0 percent); Spain (-4.9 percent); Austria (-9.4 percent), and Singapore (-16.6 percent) while imports fell from Japan (9.0 percent); Ireland (30.2 percent).

Considering the first half of the year, the trade surplus widened to CHF 12.9 billion from CHF 8.7 billion in the same period of 2018.
 
 


Swiss Trade Surplus Largest in Nearly 2-1/2 Years


Swiss Customs Administration | Chusnul Ch Manan | chusnul@tradingeconomics.com
7/18/2019 7:14:04 AM