Swiss Trade Surplus Narrows 19% In June
Swiss trade surplus narrowed 19 percent to CHF 2.81 billion in June 2017 from CHF 3.47 billion a year earlier and below market expectations of CHF 2.89 billion as exports rose less than imports. Exports went up by 2.5 percent to CHF 18.74 billion while imports increased by 7.8 percent to CHF 15.93 billion. In May 2017, the trade balance was recorded CHF 3.40 billion surplus.
Year-on-year, exports rose by 2.7 percent to CHF 18.74 billion, mainly driven by an increase in sales of watches (5.3 percent), metals (11.5 percent), and jewelry and bijouterie (62.5 percent). In contrast sales fell for : chemical and pharmaceutical products (-4.0 percent), machinery and electronics (-1.6 percent) and precision instruments (-1 percent).
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Among major trade partners, sales went up to: China (6.1 percent); Japan (5.1 percent); Hong Kong (21.8 percent), and the US (17.8 percent). In contrast sales went down to EU countries (-3.1 percent), mainly Germany (-12.1 percent) and France (-0.5 percent)
Imports rose 7.8 percent to CHF 15.93 billion, driven by an increase in purchases of chemical and pharmaceutical products (24.2 percent), machinery and electronics (-0.2 percent), metals (3.7 percent), jewelry and bijouterie (30.3 percent), and textiles, clothing, footwear (10.7 percent). In contrast purchases decreased for : vehicles (-11.1 percent) and food, beverages and tobacco (-1.0 percent).
Among major trade partners, purchases went up from: EU countries (9.7 percent), mainly Germany (4.7 percent), France (5.8 percent), and Italy (8.1 percent). Purcahes dropped from China (-0.5 percent) and the US (-30.3 percent).
In the January-June period 2017, the trade surplus widened to CHF 18.96 billion from CHF 18.59 billion in the same period of 2016.