Swiss Trade Surplus Narrows 21.7% in November
Swiss trade surplus narrowed 21.73 percent to CHF 2.63 billion in November 2017 from CHF 3.36 billion in the same month a year earlier and below market expectations of CHF 2.87 billion.
Year-on-year, exports increased by 9.5 percent to CHF 20.46 billion in November, mainly due to a rise in sales of chemical and pharmaceutical products (7.4 percent); precision instruments (15.1 percent); jewelry and bijouterie (9.5 percent); machinery and electronics (9.2 percent); watches (6.3 percent); metal (20.2 percent), and food and beverages (14.5 percent).
Among major trade partners, sales increased to EU (11.2 percent), mainly to Germany (8.6 percent); France (10.8 percent), Italy (17.8 percent); the US (3.4 percent); China (1 percent); Japan (28.3 percent), and Hong Kong (3.5 percent). Meanwhile, sales went down to Spain (-5.7 percent).
Imports rose 16.4 percent to CHF 17.83 billion, boosted by an increase in purchases of chemical and pharmaceutical products (14.8 percent); machinery and electronics (17.8 percent); vehicles (2.5 percent); food, beverages and tobacco (8.1 percent); metals (23.9 percent); textiles, clothing, footwear (19.4 percent), and jewelry and bijouterie (83.4 percent).
Among major trade partners, purchases went up from China (18.9 percent); the EU (12.9 percent), mainly from Germany (12.6 percent), France (18.1 percent), and Italy (9.1 percent); Japan (26.6 percent), and the US (8.6 percent). In contrast, purchases fell from Hong Kong (-12.5 percent) .
In January-November 2017, the trade surplus narrowed to CHF 32.24 billion from CHF 34.25 billion in the same period of 2016.
12/21/2017 8:07:36 AM