Switzerland Trade Surplus Narrows to 6-Month Low

Switzerland trade surplus fell to CHF 2.67 billion in October of 2016 from CHF 4.01 billion a year earlier and missing market expectations of a surplus CHF 3.89 billion. It was the smallest surplus since April, as exports fell while imports rose.

Year-on-year, sales declined by 5.6 percent to CHF 17.8 billion, mainly due to machinery and electronics (-9.9 percent), watches (-16.4 percent), precision instruments (-4.6 percent), metals (-3.2 percent), jewelry and bijouterie (-29.2 percent); food, beverages and tobacco (-6.1 percent), vehicles (-26.6 percent), plastic products (-9.3 percent) and paper and graphic products (-5.5 percent). In contrast, outbound shipments went up for: chemicals and pharmaceuticals (+2.0 percent) and textiles, clothing and footwear (+13.8 percent). Among major trade partners, sales werlower to Euro zone (-3.8 percent), the EU countries (-2.7 percent) and Africa (-10.0 percent). In contreast, sales rose to the US (+1.1 percent), China (+18.5 percent), Japan (+5.1 percent) and Australia (+0.7 percent).

Purchases increased by 1.8 percent to CHF 15.10 billion, driven by chemicals and pharmaceuticals (+13.1 percent); textiles, clothing and footwear (+11.2 percent) and jewelry and bijouterie (+2.8 percent). In contrast, imports fell for: machinery and electronics (-1.5 percent), vehicles (-0.4 percent), metals (-2.2 percent); food, beverages and tobacco (-1.4 percent), energy products (-16.7 percent), plastic products (-1.8 percent), watches (-0.9 percent) and paper and graphic products (-5.6 percent).

In September 2016, trade surplus was marginally  revised to CHF 4.33 billion.

Swiss Customs Administration l Rida Husna | rida@tradingeconomics.com
11/22/2016 7:51:57 AM