Swiss Trade Surplus Narrows in July


The Swiss trade surplus narrowed to CHF 2.7 billion in July 2019 from a revised CHF 3.2 billion in the previous month, as exports fell more than imports.

Exports decreased 3.9 percent from a month earlier to CHF 19.6 billion in July, due to lower sales of chemical and pharmaceutical products (-11.3 percent), jewellery (-3.9 percent), and precision instruments (-0.9 percent). Conversely, sales rose for machinery and electronics (5.9 percent); food, beverages and tobacco (3.2 percent); metals (3.1 percent); watchmaking (0.1 percent).
 
Among major trade partners, exports declined to France (-2.2 percent), the UK (-24.9 percent), Spain (-6.3 percent), the Netherlands (-16.7 percent), Belgium (-16.3 percent), Austria (-8.9 percent), the US (-13.9 percent), China (-2 percent), and the Middle East (-1.6 percent). Meanwhile, there were increases in exports to Germany (3.9 percent), Italy (8.5 percent), Japan (4.3 percent), Hong Kong (8.1 percent), and Singapore (0.3 percent).

Imports dropped at a softer 1.7 percent to CHF 16.9 billion, mainly due to lower purchases of chemical and pharmaceutical products (-8.3 percent), vehicles (-3.9 percent), metals (-2.8 percent), and textiles, clothing, footwear (-0.9 percent). On the other hand, imports rose for: machinery and electronics (0.3 percent); jewellery (13.4 percent); food, beverages and tobacco (0.8 percent); and energy products (4.6 percent).

Among major trade partners, imports were down from France (-16.8 percent), Belgium (-3.9 percent), Austria (-19.4 percent), Ireland (-33.9 percent), and the US (-1.7 percent), but rose from Germany (0.4 percent), Italy (3.4 percent), Spain (30.4 percent), the Netherlands (2.3 percent), the UK (6.9 percent), the UAE (45.3 percent), China (1.7 percent), and Japan (10.7 percent).
 
Considering the first seven months of the year, the trade surplus widened sharply to CHF 14.9 billion from CHF 9.6 billion in the same period of 2018.

Swiss Trade Surplus Narrows in July


Swiss Customs Administration | Chusnul Ch Manan | chusnul@tradingeconomics.com
8/20/2019 8:49:27 AM