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).
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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.