Swiss Trade Surplus Declines on Rising Imports in July

In July, Switzerland's trade surplus decreased to 2.38 billion Swiss francs from 2.82 billion in June and 2.77 billion in July of 2012. This fall is driven by rising imports, up at a faster pace than exports, driven by consumption goods purchases.

In July, exports from Switzerland rose 3.0 percent to 18.22 billion Swiss francs and imports grew 6.9 percent to 15.84 billion francs. Shipments of food, beverages and tobacco (11 percent), pharmaceuticals (9 percent) and precision instruments (7.7 percent) were up in an annual basis. In contrast, sales of electricity (-68 percent), cars (-13 percent) and jewelry (-10 percent) registered the steepest declines.  

Purchases increased in almost all categories, most notably for consumption goods (13 percent), equipment goods (8 percent) and intermediate goods (3.5 percent). Imports of energy registered the only yearly fall (-14 percent).

Exports to Europe were broadly unchanged while those for South America (19 percent), North America (15 percent) and Asia (8.4 percent) registered sharp increases. Purchases from North America were up by 20 percent, inflows from Asia rose 10 percent and imports from Europe increased 6.7 percent.

Swiss Trade Surplus Declines on Rising Imports in July

Nuno Fontes |
8/22/2013 9:13:00 AM