Swiss Trade Surplus Smallest Since 2022

2026-10-20 06:32 By Czyrill Jean Coloma 1 min. read

Switzerland’s trade surplus narrowed to CHF 1.4 billion in September 2026 from a downwardly revised CHF 5.4 billion in the previous month.

It marked the smallest trade surplus since November 2022, as imports jumped 24.9% month-on-month to a more than one-year high of CHF 21.9 billion, driven primarily by a sharp increase in purchases of chemical and pharmaceutical products (87.8%).

Imports from Europe climbed 21.7%, while those from North America and Asia rose 28.6% and 2.4%, respectively.

Meanwhile, exports increased 1.5% month-on-month to CHF 23.3 billion, supported by higher shipments of chemical and pharmaceutical products (0.5%) and watches (1.6%).

Exports to Asia rose 14.8%, while those to North America gained 11.2%.

In contrast, exports to Europe fell 4.3%.

In Q3 2026, Switzerland’s trade surplus widened to CHF 14 billion from CHF 13.2 billion in the previous quarter, as both exports (CHF 75 billion vs CHF 73.1 billion) and imports (CHF 61 billion vs CHF 60 billion) rose.



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Swiss Trade Surplus Smallest Since 2022
Switzerland’s trade surplus narrowed to CHF 1.4 billion in September 2026 from a downwardly revised CHF 5.4 billion in the previous month. It marked the smallest trade surplus since November 2022, as imports jumped 24.9% month-on-month to a more than one-year high of CHF 21.9 billion, driven primarily by a sharp increase in purchases of chemical and pharmaceutical products (87.8%). Imports from Europe climbed 21.7%, while those from North America and Asia rose 28.6% and 2.4%, respectively. Meanwhile, exports increased 1.5% month-on-month to CHF 23.3 billion, supported by higher shipments of chemical and pharmaceutical products (0.5%) and watches (1.6%). Exports to Asia rose 14.8%, while those to North America gained 11.2%. In contrast, exports to Europe fell 4.3%. In Q3 2026, Switzerland’s trade surplus widened to CHF 14 billion from CHF 13.2 billion in the previous quarter, as both exports (CHF 75 billion vs CHF 73.1 billion) and imports (CHF 61 billion vs CHF 60 billion) rose.
2026-10-20
Swiss Trade Surplus Narrows in August
Switzerland’s trade surplus narrowed to CHF 5.6 billion in August 2026 from a record CHF 8.1 billion in the previous month. Imports fell 11.6% month-on-month to a one-year low of CHF 17.4 billion, almost entirely due to a sharp drop in purchases of chemical and pharmaceutical products (-35.8%), led by medicinal products, antisera and vaccines. Imports from Europe recorded the steepest decline at 7.5%, led by a sharp 49.9% drop in imports from Slovenia. Elsewhere, purchases from Asia (-1.2%) and North America (-2.7%) also fell. Meanwhile, exports dropped 17.2% from a month earlier to a four-month low of CHF 23.1 billion, weighed down by lower shipments of chemical and pharmaceutical products (-32.2%) and watches (-7.2%). Exports to North America slumped 31%, led by a 31.2% drop in shipments to the US. Shipments to Asia (-18.9%) and Europe (-9.1%) also declined.
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Swiss Trade Surplus Hit Record Peak
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