Swiss Trade Surplus Narrows 32.1% in September
Swiss trade surplus narrowed 32.1 percent to CHF 2.92 billion in September 2017 from CHF 4.30 billion in the same month a year earlier but above market expectations of CHF 2.47 billion.
Year-on-year, exports decreased by 3.1 percent to CHF 18.24 billion in September, mainly due to a fall in sales of chemical and pharmaceutical products (-10.2 percent); precision instruments (-3 percent); and jewelry and bijouterie (-7.6 percent). In contrast, sales rose for both machinery and electronics (2.7 percent) and watches (3.7 percent).
Among major trade partners, sales decreased to Germany (-0.6 percent); Japan (-30.3 percent); South Korea (-8.3 percent); and the US (-18.1 percent). Meanwhile, sales went up to France (0.4 percent); Italy (4.2 percent); the UK (4.9 percent); China (4.2 percent); Singapore (44.4 percent); and Hong Kong (9.8 percent).
Imports rose 5.5 percent to CHF 15.33 billion, boosted by an increase in purchases of chemical and pharmaceutical products (1.2 percent); machinery and electronics (4.3 percent); vehicles (2.9 percent); food, beverages and tobacco (1.7 percent); metals (11 percent); and textiles, clothing, footwear (8.9 percent).
Among major trade partners, purchases went up from China (8.9 percent); the EU (1 percent), mainly from Germany (1.6 percent), France (11.6 percent), and Italy (3.9 percent); and the UAE (879.6 percent). In contrast, purchases fell from Japan (-3.6 percent); Hong Kong (-9.8 percent), and the US (-6.5 percent).
In January-September 2017, the trade surplus narrowed to CHF 27.43 billion from CHF 28.35 billion in the same period of 2016.
10/19/2017 11:17:55 AM