Swiss Trade Surplus Narrows 8.3% in October
Swiss trade surplus narrowed 8.27 percent to CHF 2.33 billion in October 2017 from CHF 2.54 billion in the same month a year earlier and below market expectations of CHF 3.21 billion.
Year-on-year, exports increased by 8.4 percent to CHF 19.33 billion in October, mainly due to a rise in sales of chemical and pharmaceutical products (3.2 percent); precision instruments (10.1 percent); jewelry and bijouterie (15.86 percent); machinery and electronics (8.8 percent); watches (9.3 percent); metal (20.9 percent), and food and beverages (10.6 percent).
Among major trade partners, sales increased to EU (4.9 percent), mainly from France (7 percent), Italy (20.6 percent), and Austria (31.6 percent); the US (15.8 percent); Japan (27.6 percent), and Hong Kong (19.3 percent). Meanwhile, sales went down to Germany (-2 percent); South Korea (-8.3 percent), and China (-4.1 percent).
Imports rose 11.1 percent to CHF 17 billion, boosted by an increase in purchases of chemical and pharmaceutical products (0.1 percent); machinery and electronics (5.9 percent); vehicles (5.2 percent); food, beverages and tobacco (8.7 percent); metals (22.5 percent); textiles, clothing, footwear (12 percent), and jewelry and bijouterie (73.9 percent).
Among major trade partners, purchases went up from China (11.3 percent); the EU (9.2 percent), mainly from Germany (15.2 percent), France (30.9 percent), and Italy (11 percent); Hong Kong (26.2 percent). In contrast, purchases fell from Japan (-45.4 percent) and the US (-3.3 percent).
In January-Octoberr 2017, the trade surplus narrowed to CHF 29.73 billion from CHF 30.89 billion in the same period of 2016.
11/21/2017 8:53:25 AM