Switzerland Trade Surplus Widens in February

Switzerland trade surplus increased slightly to CHF 2.47 billion in February of 2015 from CHF 2.36 billion a year earlier as imports declined more than exports.
Swiss Customs Administration l Rida Husna l rida@tradingeconomics.com 3/19/2015 9:35:39 AM
In February, exports fell by 3.9 percent year-on-year to CHF 16.12 billion, due to lower sales of  active pharmaceutical ingredients (-16.9 percent); pharmaceuticals, vitamin, diagnostics (-7.7 percent); immunological products (-5.5 percent) and medication (-5.1 percent). Sales also declined for: raw materials and commodities (-0.1 percent); agro-chemical products (-7.9 percent); unshaped plastics (-7.7 percent); essentials oils, flavors and fragrances (-13.4 percent); machinery and electronic industry (-8.1 percent); engineering industry (-9.8 percent); machine tools for metal working (-5 percent); non-electric engines (-29.8 percent); pumps, compresossors, etc (-15.1 percent); other machine tools (-4.8 percent); heating and cooling technology (-21.8 percent); textile machinery (-14.8 percent); machine for paper/graphics industry (-15.4 percent); electrical engineering and electronics (-3.2 percent); electrical and electronic products (-2.2 percent); power generation, electric motors (-8.6 percent); telecommunications (-17.5 percent); watch industry (-2.0 percent); precision instruments (-4.6 percent); medical instruments and apparatus (-2.2 percent); mechanical measuring, testing and control equipments (-3.0 percent); metal industry (-4.5 percent); metal products (-5.1 percent); machine elements of metal (-4.9 percent); tools and molding (-4.8 percent); iron and steel (-13.8 percent); food and beverages (-3.0 percent); coffee (-5.8 percent); chocolate (-7.3 percent); tobacco brands (-1.1 percent); plastics industry (-10.7 percent); textiles, clothing, footwear (-7.7 percent) and paper and printing industry (-7.3 percent).

In contrast, exports  increased for: body color (+2.4 percent); household appliances (8.6 percent); office machines (+12 percent); aluminium (+10.6 percent); cheese (+5.5 percent); rolling stock (+8.5 percent); aircraft and spacecraft (+33.5 percent) and rail vehicles (+6.3 percent).

Sales  declined to China (-33.5 percent),  the EU countries (-4.5 percent), Singapore (-18.4 percent), Hong Kong (-17.5 percent), Japan (-7.0 percent), Taiwan (-7.1 percent), Russia Federation (-34.3 percent), Thailand (-26.5 percent), Latin America (-3.5 percent), Africa (-28.1 percent) and Oceania (-3.8 percent). In contrast, exports increased to the US (+5.4 percent), India (+36.3 percent), South Korea (+11.1 percent), Turkey (+4.9 percent), the Middle East countries (+22.7 percent) and Vietnam (+79.4 percent).

Imports declined by 5.3 percent year-on-year to CHF 13.65 billion. Purchases of energy sources dropped by 28.7 percent. Among the category, crude oils and commodities declined by 49.5 percent, fuels (-23.5 percent) and electrical current (-7.4 percent). Imports also decreased for raw materials (-15.4 percent) and capital goods (-6.1 percent). In contrast, imports of consumer goods rose to 1.3 percent.

In January 2015, Switzerland registered a revised CHF 3.409 billion trade surplus.

Switzerland Trade Surplus Widens in February