Swiss Trade Surplus Smallest in 4 Months
Swiss trade surplus narrowed 23.9 percent to CHF 2.17 billion in August 2017 from CHF 2.85 billion a year earlier and below market expectations of CHF 2.41 billion. It was the smallest trade surplus since April, as exports rose less than imports.
Year-on-year, exports rose by 3.9 percent to CHF 16.67 billion, mainly driven by an increase in sales of machinery and electronic metals (10.8 percent); watches (4.2 percent), and precision instruments (10 percent). In contrast, sales fell for: jewelry and bijouterie (-16.1 percent).
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Among major trade partners, sales increased to: China (50.2 percent), Singapore (12.3 percent); Hong Kong (16.6 percent); South Korea (11.9 percent), and Taiwan (21.4 percent). In contrast sales went down to Japan (-26.2 percent); the US (-0.9 percent).
Imports rose 9.8 percent to CHF 14.49 billion, boosted by an increase in purchases of vehicles (9.2 percent); food, beverages and tobacco (10.3 percent); chemical and pharmaceutical products (10.3 percent); machinery and electronics (12.3 percent); metals (12 percent), and textiles, clothing, footwear (4.1 percent). In contrast purchases decreased for watches (-18.5 percent).
Among major trade partners, purchases went up from : China (5.5 percent); Japan (29.2 percent), and EU countries (11.2 percent), mainly Germany (12.9 percent), France (22.8 percent), and Italy (7.5 percent). In contrast, purchases fell from: Singapore (-3.6 percent); the US (-8.7 percent).
In July 2017, the trade surplus was marginally revised to CHF 3.49 billion.
In the January-August period 2017, the trade surplus widened to CHF 24.52 billion from CHF 24.06 billion in the same period of 2016.