Switzerland Trade Surplus Smallest in 3 Months

Switzerland trade surplus stood at CHF 2.93 billion in July of 2016, compared to a CHF 3.49 billion surplus a year earlier and market expectations of a CHF 3.79 billion. It was the smallest trade surplus since April as exports fell while imports rose.

In July, outbound shipments dropped by 1.5 percent year-on-year to CHF 17.74 billion, following a 1.7 percent growth in June. Sales went down for: machinery and electronics (-4.6 percent), watches (-14.2 percent), precision instruments (-3.1 percent), metals (-2.0 percent), plastics (-6.1 percent); textiles, clothing and footwear (-9.0 percent) and paper and graphic products (-10.5 percent). In contrast, exports rose for: chemicals and pharmaceuticals (+1.1 percent),  jewelry and bijouterie (+24.5 percent), food & beverages (+1.1 percent) and vehicles (+1.1 percent). Among major trade partners, sales declined to the EU countries (-1.9 percent), followed by the Middle East countries (-6.0 percent) and India (-15.1. In contrast, outbound shipments rose to China (+4.0 percent), the US (+4.8 percent) and Japan (+24.1 percent).

Imports went up 2.0  percent year-on-year to CHF 17.74 billion, compared to a 2.0 percent rise in June, mainly driven by chemicals and pharmaceuticals (+21.0 percent), vehicles (+6.1 percent) and food & beverages (+3.6 percent). Among trading partners, imports were higher from the EU countries (+2.3 percent), the Middle East countries (+9.7 percent), the USA (+27.2 percent), South Africa (+69.7 percent) and Australia (+26.6 percent).

In June 2016, trade surplus was marginally revised to CHF 3.51 billion.

Switzerland Trade Surplus Smallest in 3 Months

Rida | rida@tradingeconomics.com
8/23/2016 7:43:39 AM