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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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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