Switzerland Trade Surplus Widens in September

Switzerland trade surplus widened to CHF 2.45 billion in September of 2014 from CHF 2.25 billion a year earlier, above market expectations, as exports expanded at a faster pace than imports.

In September of 2014, exports increased 4.4 percent year-on-year to CHF 17.52 billion, mainly driven by sales of aircraft and spacecraft (+55.0 percent), rail vehicles (+51 percent), textile machinery (+49.9 percent) and  immunological products (+20.6 percent). Deliveries were also higher for electricity (+14.1 percent), textiles, clothing and footwear (+8.4 percent), cheese (+11.5 percent) and  beverages and tobacco (+2.3 percent) and tobacco (+11.2 percent). Outward shipments shrank for pharmaceutical ingredients (-26.9 percent); non-electric engines (-19.8 percent); office machines (-13.7 percent); paper machine/graphic art industries (-12.6 percent) and jewelry (-10.6 percent).

Sales to the European Union remained unchanged with shipments to Portugal falling the most (-77.5 percent), followed by Belgium (-11.5 percent) and the Netherlands (-11.3 percent). Exports to the US grew 15.8 percent and to Asia rose 6.6 percent. In contrast, sales to Oceania, including Australia, fell 15.2 percent.

Imports grew 3.7 percent year-on-year to CHF 15.07 billion. Inbound shipments increased for almost all product categories except the energy. The energy imports fell 7.6 percent with deliveries of fuels shrinking 20.3 percent. Higher purchases were recorded for capital goods (+9.6 percent), raw materials and semi-finished products (+5.2 percent) and consumer goods (+1.6 percent). 

In August of 2014, the country posted a revised CHF 1.33 billion trade surplus. During January to September period, the total surplus amounted to CHF 21.56 billion.

Switzerland Trade Surplus Widens in September

Swiss Customs Administration l Rida l rida@tradingeconomics.com
10/21/2014 11:49:46 AM