Swiss Trade Surplus Narrows In August

Switzerland's trade surplus narrowed in August due to a sharp fall in exports, data from the Federal Customs Administration showed on September 20.

The trade surplus totaled CHF 808 million in August from CHF 2.81 billion in July.

Imports rose 0.9 percent to CHF 13077 million in August, reversing last month's 0.1 percent drop. Exports fell 7 percent month-on-month to CHF 13885 million, following a 1.4 percent rise in July.

Yet, the value of watch exports increased 16.4 percent on an annual basis to CHF 1.30 billion in August, data released by the Federation of Swiss Watch Industry showed. Exports to China climbed 44.3 percent annually, while shipments to the U.S and Hong Kong rose by 21.8 percent and 18.4 percent, respectively, during the month.

Swiss Trade Surplus Narrows In August, SECO
9/20/2011 12:08:57 PM