Switzerland Posts Largest Trade Surplus in 5 Months

The Swiss trade surplus widened to CHF 1.45 billion in September 2018 from a marginally revised CHF 1.36 billion in the previous month. It was the largest trade surplus since April, as exports fell less than imports.

Exports declined 2.1  percent from a month earlier to CHF 17.83 billion in September, dragged by decreases in sales of watchmaking (-5.2 percent), precision instruments (-2.6 percent); metals (-3.7 percent); chemical and pharmaceutical products (-1.2 percent), and machinery and electronics (-0.2 percent). By contrast, there was an increases in exports of jewelry and bijouterie (4.2 percent).

Among major trade partners, exports to the EU decreased 1 percent, mainly to Germany (-2.1 percent), France (-2.8 percent), the Netherlands (-22 percent), and Spain (-4 percent) while those to Italy and Austria went up 1.3 percent and 18.9 percent, respectively. In addition, sales dropped to China (-12.4 percent), India (-3.6 percent), and the US (-1.4 percent). By contrast, exports increased to Japan (21.6 percent); Singapore (1.1 percent), and Turkey (54.9 percent).

Imports fell at a faster 2.8 percent to CHF 16.38 billion in September, as purchases decreased for vehicles (-9.2 percent), jewelry and bijouterie (-29.6 percent), metals (-1.3 percent), and textiles, clothing, footwear (-0.2 percent). Meanwhile, imports increased for chemical and pharmaceutical products (3.2 percent), and machinery and electronics (0.1 percent). 

Among major trade partners, imports from the EU went down 1.4 percent, namely from Germany (-1.7 percent), Italy (-5.2 percent), France (-9.7 percent), and the Netherlands (-10.3 percent) while those from Belgium and Ireland rose 10.5 percent and 9.3 percent, respectively. Also, imports declined from China (-2.3 percent), Japan (-25.6 percent); the US (-10.6 percent) but rose from the Hong Kong (3.9 percent); Singapore (14.5 percent), and Canada (116.3 percent).
Considering January to September, the trade surplus narrowed sharply to CHF 11.6 billion from CHF 18.5 billion in the same period of 2017.


Switzerland Posts Largest Trade Surplus in 5 Months

Swiss Customs Administration l Chusnul Ch Manan| chusnul@tradingeconomics.com
10/18/2018 7:08:28 AM