Switzerland Trade Surplus Increases in October

Switzerland trade surplus widened to CHF 3.25 billion in October of 2014 from CHF 2.27 billion a year earlier, as exports reached a new monthly high and imports grew at a slower pace.

In October of 2014, exports grew 8.1 percent year-on-year to CHF 19.76 billion, mainly supported by sales of jewelry (+36 percent), chemical and pharmaceutical ingredients (+8 percent) and immunological products (+16 percent). Deliveries were also higher for medical instruments and equipments (+9 percent), watches (+5 percent) and coffee (+13 percent). Outward shipments shrank for non-electrical machinery power (-24 percent) and electricity items (-15 percent).

Sales to the US grew by 14 percent while those to Asia increased by 9 percent. Exports to the EU countries grew by 5.0 percent with those to Hungary increasing the most (+72 percent), followed by Spain (+14 percent), France (+14 percent) and Germany (+11 percent).

Imports grew 3.2 percent year-on-year to CHF 16.50  billion. Inbound shipments increased for capital goods and consumer goods (+8 percent and 4 percent, respectively), while imports of raw materials and semi-finished products declined by 2.0 percent and purchase of energy decreased by 4 percent.

In September of 2014, Switzerland registered a revised CHF 2.49 billion trade surplus.

Switzerland Trade Surplus Increases in October

Swiss Customs Administration l Rida l rida@tradingeconomics.com
11/20/2014 11:32:45 AM