Switzerland Trade Surplus Increases in March

Switzerland trade surplus widened to CHF 2.52 billion in March of 2015 from CHF 2.07 billion a year earlier as exports grew more than imports.
Swiss Customs Administration l Rida Husna l rida@tradingeconomics.com 4/23/2015 8:31:15 AM
In March, exports rose by 3.2 percent year-on-year to CHF 17.95 billion, due to higher sales of  pharmaceuticals, vitamin, diagnostics (+1.7 percent); immunological products (+5.9 percent) and medication (+2.1 percent). Sales also increased for: raw materials and commodities (+25.3 percent); agro-chemical products (+12.7 percent); essentials oils, flavors and fragrances (+4.7 percent); textile machinery (+11.5 percent); household appliances (+13.4 percent) office machines (+20.7 percent; electrical engineering and electronics (+4.8 percent); electrical and electronic products (+5.8 percent); telecommunications (+27.0 percent); watch industry (+6.3 percent); precision instruments (+12.2 percent); medical instruments and apparatus (+18.0 percent);  aluminium (+14.7 percent);costumes & jewelry (+3.1 percent); food and beverages (+5.7 percent); coffee (+5.0 percent); benerages (+13.9 percent); chocolate (+2.1 percent); cheese (+15.0 percent); aircraft and spacecraft (+133.6 percent); rail vehicles (+67.3 percent) and textiles, clothing, footwear (+2.9 percent).

In contrast, exports  declined for: active pharmaceutical ingredients (-6.1 percent); unshaped plastics (-2.8 percent); body color (-1.1 percent); non-electric engines (-27.5 percent); pumps, compressors (-25.1 percent); textile machinery (-6.5 percent); power generator (-2.3 percent); iron and steel (-10.0 percent); tobacco brands (-6.9 percent); plastic industry (-8.7 percent) and paper and printing industry (-12.8 percent).

Sales increased to China (+12.4 percent),  the US (+23.6 percent), Japan (+5.6 percent), South Kore (+30.6 percent), Malaysia (+54.4 percent), Thailand (+31.2 percent) and Vietnam (+39.6 percent). In contrast, outbound shipments declined to the EU countries  (-3.1 percent), Russia (-29.6 percent), Hong Kong (-12.2 percent), Taiwan (-3.3 percent) and Africa (-1.2 percent).

Imports rose by 0.7 percent year-on-year to CHF 15.42 billion. Purchases of energy sources dropped by 14.8 percent. Among the category, crude oils and commodities declined by 21.5 percent, fuels (-21.2 percent) while electrical current increased by 3.0 percent. In contrast, imports increased for consumer goods (+4.5 percent), capital goods (+2.7 percent) while those of raw materials declined by 4.2 percent.

In February 2015, Switzerland registered a revised CHF 2.32 billion trade surplus.

Switzerland Trade Surplus Increases in March