Swiss Trade Surplus Rises In November

The Swiss trade surplus hit CHF 3 billion in November, the second largest on record, up from CHF 2.16 billion during October., Federal Customs Administration 12/20/2011 1:58:45 PM

Exports rose 3.8 percent year-on-year in November, but slower than the 9.5 percent increase in October in real terms. Imports, on the other hand, declined 3.4 percent after a revised 3.7 percent growth in October.

On a seasonally and working day adjusted basis, exports fell 2 percent month-on-month and imports declined 7.4 percent.

Total exports were boosted by higher demand for Swiss watches and chemicals. However, shipments of machinery and electronic products continued to decline for a fourth month.

Separately, the Federation of the Swiss Watch Industry, FH, said that monthly value of watch exports rose 16 percent annually in November, passing the two billion franc mark for the first time to record a monthly result of CHF 2.058 billion.

Swiss Trade Surplus Rises In November