Switzerland Trade Surplus Hits Record High in September

Switzerland trade surplus increased to CHF 4.37 billion in September of 2016 from CHF 3.13 billion a year earlier and beating market expectations of a surplus CHF 3.27 billion. It was the largest surplus on record, as exports rose much more than imports.

Year-on-year, sales grew by 10.3 percent to CHF 18.8 billion, driven by chemicals and pharmaceuticals (+18.3 percent), precision instruments (+14.5 percent), metals (+6.3 percent), jewelry and bijouterie (+18.9 percent), machinery and electronics (+6.3 percent) and textiles, clothing and footwear (+9.1 percent). In contrast, outbond shipments dropped for: watches (-5.7 percent) and food & beverages (-1.7 percent). Among major trade partners, sales were higher to the US (+36.7 percent), Africa (+20 percent), Japan (+57.8 percent), China (+31.4 percent) and the EU countries (+3.5 percent).  In contrast, sales declined to America Latin (-6.6 percent) and Euro Zone (-7.2 percent). 

Imports increased by 3.7  percent to CHF 14.4 billion. Purchases went up for: chemicals and pharmaceuticals (+17.1 percent),  textiles, clothing and footwear (+6.5 percent), precision instruments (+6.3 percent) and watches (+13.9 percent). In contrast, inbound shipments fell for machinery and electronics (-0.5 percent), energy products (-13.1 percent), plastics (-1.9 percent) and paper (-4.0 percent).

In August 2016, trade surplus was marginally  revised to CHF 3.01 billion.

Considering January to September 2016, sales rose 6.4 percent to CHF 52.55 billion while imports increased by 6.2 percent to CHF 42.37 billion. That brought a trade surplus of CHF 10.20 billion during the period, compared to a CHF 9.5 billion surplus in the same period a year earlier.

Switzerland Trade Surplus Hits Record High in September

Swiss Customs Administration l Chusnul Ch Manan | chusnul@tradingeconomics.com
10/20/2016 11:01:13 AM