Switzerland Trade Surplus Widens in November
Switzerland trade surplus rose to CHF 3.64 billion in November of 2016 from CHF 3.12 billion a year earlier as exports rose while imports fell.
Year-on-year, sales increased by 2.5 percent to CHF 18.8 billion, mainly driven by chemical- pharmaceutical products (+4.5 percent), machinery and electronics (+4.7 percent), precision instruments (+2.1 percent), metals (+7.3 percent), jewelry and bijouterie (+1.1 percent); food, beverages and tobacco (+0.1 percent), textiles, clothing and footwear (+20.0 percent), and plastic products (+1.6 percent). In contrast, outbound shipments went down for: watches (-5.6 percent), vehicles (-19.5 percent) and paper and graphic products (-0.8 percent). Among major trade partners, sales were higher to the EU countries (+1.1 percent),China (+16.8 percent), Singapore (+10.1 percent), the US (+3.0 percent), Brazil (+3.9 percent), South Africa (+33.8 percent) and Australia (+11.9 percent). In contrast, sales fell to Japan (-12.4 percent) and India (-4.9 percent.
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Purchases dropped by 0.4 percent to CHF 15.2 billion, due to chemicals and pharmaceuticals (-5.0 percent), machinery and electronics (-1.3 percent), jewelry and bijouterie (-31.8 percent), paper and graphic products (-0.8 percent) and watches (-1.4 percent). In contrast, imports rose for: vehicles (+13.2 percent), metals (+1.5 percent); food, beverages and tobacco (+4.1 percent); textiles, clothing and footwear (+15.8 percent), energy carriers (+6.9 percent), precision instruments (+4.0 percent) and plastics (+0.5 percent).
In October 2016, trade surplus was marginally revised to CHF 2.66 billion.