Swiss Trade Surplus Smallest Since 2024

2026-04-21 06:27 By Czyrill Jean Coloma 1 min. read

Switzerland’s trade surplus narrowed to CHF 2.7 billion in March 2026, from a downwardly revised six-month high of CHF 4.4 billion in the prior month.

It marked the smallest surplus since February 2024, as imports climbed 10.1% month-on-month to a four-month high of CHF 19.6 billion, driven mainly by higher purchases of chemical and pharmaceutical products (36.1%) and machinery, electronics and equipment (1.6%).

Imports rose the most from Europe (9.5%) and Asia (4.2%).

Meanwhile, exports rose just 1% to CHF 22.4 billion, with watch shipments slipping 5.4% as the sector grappled with disruptions in the Middle East and persistently high precious metal costs.

Regionally, exports to Europe (5.8%) and Asia (6.2%) increased, while shipments to North America dropped 16.2%, driven by a 15.9% fall in exports to the US after a strong 17.9% growth in February.

For the Q1 2026, Switzerland recorded a trade surplus of CHF 110.95 billion, with exports falling 4.2% and imports declining 4.7%.



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Swiss Trade Surplus Smallest Since 2024
Switzerland’s trade surplus narrowed to CHF 2.7 billion in March 2026, from a downwardly revised six-month high of CHF 4.4 billion in the prior month. It marked the smallest surplus since February 2024, as imports climbed 10.1% month-on-month to a four-month high of CHF 19.6 billion, driven mainly by higher purchases of chemical and pharmaceutical products (36.1%) and machinery, electronics and equipment (1.6%). Imports rose the most from Europe (9.5%) and Asia (4.2%). Meanwhile, exports rose just 1% to CHF 22.4 billion, with watch shipments slipping 5.4% as the sector grappled with disruptions in the Middle East and persistently high precious metal costs. Regionally, exports to Europe (5.8%) and Asia (6.2%) increased, while shipments to North America dropped 16.2%, driven by a 15.9% fall in exports to the US after a strong 17.9% growth in February. For the Q1 2026, Switzerland recorded a trade surplus of CHF 110.95 billion, with exports falling 4.2% and imports declining 4.7%.
2026-04-21
Swiss Trade Surplus at 6-Month High
Switzerland’s trade surplus widened to CHF 4.4 billion in February 2026, from a downwardly revised CHF 3.5 billion in January, marking the largest surplus since August 2025. Exports fell 2.7% month-over-month to CHF 22.2 billion, with declines recorded in nine of the ten main product groups. The largest drops were in chemical and pharmaceutical products (-3.1%) and machinery, electronics, and equipment (-2.6%), while watch exports (1.3%) were the only segment showing growth and continuing a five-month upward trend. Regionally, exports to Europe (-3.5%) and Asia (-12%) declined, while exports to North America surged 19.4%, led by the US (21.2%). Meanwhile, imports dropped even more sharply, falling 8.3% month-on-month to CHF 17.8 billion, primarily weighed down by a 23.5% slump in chemical and pharmaceutical products. Imports contracted across all major regions, namely Europe (-10.4%), North America (-27.7%), and Asia (-8.9%).
2026-03-19
Swiss Trade Surplus Expands in January
Switzerland’s trade surplus widened to CHF 3.6 billion in January 2026, from a downwardly revised CHF 2.9 billion in December, as exports rose while imports decreased. Exports grew 2.3% month-on-month to CHF 23.0 billion, driven mainly by chemical and pharmaceutical exports, which rose 4.9% after a 10.6% decline in December. Exports of machinery, electronics, and equipment also increased (2.0%). By destination, shipments to Europe went up 5.3%, while exports to Asia (-3.5%) and North America (-7.2%) dropped. Specifically, exports to the US dropped 7.1%, despite a tariff cut on Swiss goods from 39% to 15% in mid-November. Meanwhile, imports decreased 0.9% to CHF 19.4 billion, largely due to reduced purchases of machinery, electronics, and equipment (-1.1%) and vehicles (-6.2%), which offset a modest rise in chemical and pharmaceutical imports (0.1%). Imports from Europe fell 0.2%, with purchases from Eurozone dropping 1.3% and those from non-Eurozone down 8.6%.
2026-02-19