Switzerland Trade Surplus Narrows in July

Switzerland trade surplus decreased to SF3.74 billion in July of 2015 from SF3.89 billion a year earlier, as imports fell more than exports.
Swiss Customs Administration l Rida Husna l rida@tradingeconomics.com 8/20/2015 8:08:19 AM
In July, exports  declined by 7.4 percent to SF17.93 billion, following a SF 17.92 billion in June 2015. Sales decreased for most of goods except costume & jewelry and textiles, clothing and footwear. Outbond shipments of chemical and pharmaceutical industry dropped by 5.9 percent), machinery and electronic industry (-12.4 percent), machinery industry (-11.8 percent), electrical engineering and electronics (-13.7 percent), watchmaking (-9.3 percent), precision instruments (-3.8 percent), metallurgy (-8.8 percent), food and beverage (-9.5 percent), vehicles (-18.5 percent), plastics industry (-10.4 percent) and paper and graphic arts (-7.7 percent). In contrast, export increased by 6.0 percent for costume & jewelry and by 0.7 percent for textiles, clothing and footwear.

Sales fell to: Europe (-8.3 percent), the EU countries (-7.1 percent), Russia (-42.6 percent), Asia (-14.9 percent), Middle East (-17.2 percent) and Latin America (-8.5 percent). In contrast, outbond shipments rose to: North America (+4.5 percent; including to the US rising 7.9 percent), Africa (+25.1 percent) and Oceania (+1.8 percent) 

Imports dropped by 8.3 percent to CHF 14.19 billion, after registering SF 14.41 billion a month earlier. Purchases fell for all categories:  energy sources (-33.3 percent, including crude oils and basic products by -68.1 percent and fuels by -17.1 percent). Imports of consumer goods declined by 3.4 percent, capital goods (-5.9 percent) and raw materials (-13.3 percent.

In June, Switzerland registered a revised SF3.51 billion trade surplus.

From January to July 2015, exports dropped by 3.3 percent and imports declined by 7.4 percent. The trade balance during the period was recorded a surplus SF21.29 billion.

Switzerland Trade Surplus Narrows in July