The Swiss trade surplus widened to CHF 3.07 billion in November 2018 from a downwardly revised CHF 2.55 billion in the previous month. It was the largest trade surplus since January 2017, as exports rose 1.8 percent to an all-time high and imports fell 1.2 percent. Balance of Trade in Switzerland averaged 76.80 CHF million from 1950 until 2018, reaching an all time high of 3301.57 CHF million in September of 2016 and a record low of -1478.68 CHF million in August of 1989.

Balance of Trade in Switzerland is expected to be 3200.00 CHF million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Switzerland to stand at 1900.00 in 12 months time. In the long-term, the Switzerland Balance of Trade is projected to trend around 2800.00 CHF million in 2020, according to our econometric models.

Switzerland Balance of Trade
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Calendar GMT Actual Previous Consensus TEForecast
2018-09-20 06:00 AM Balance of Trade CHF1.41B CHF1.17B CHF1.7B
2018-10-18 06:00 AM Balance of Trade CHF1.45B CHF1.36B CHF 2.1B
2018-11-20 07:00 AM Balance of Trade CHF2.64B CHF1.27B CHF1.2B
2018-12-20 07:00 AM Balance of Trade CHF3.07B CHF2.55B CHF2.1B
2019-01-29 07:00 AM Balance of Trade CHF3.07B CHF 3.2B
2019-02-19 07:00 AM Balance of Trade
2019-03-19 07:00 AM Balance of Trade



Switzerland Posts Largest Trade Surplus in 22 Months

The Swiss trade surplus widened to CHF 3.07 billion in November 2018 from a downwardly revised CHF 2.55 billion in the previous month. It was the largest trade surplus since January 2017, as exports rose 1.8 percent to an all-time high and imports fell 1.2 percent.

Exports increased 1.8 percent from a month earlier to a record CHF 19.2 billion in November, boosted by increases in sales of chemical and pharmaceutical products (3.9 percent), watchmaking (0.5 percent), precision instruments (0.7 percent), and food, beverages and tobacco (2.9 percent). By contrast, there were declines in exports of machinery and electronics (-0.9 percent), metals (-2.3 percent), and jewelry and bijouterie (-2.0 percent).  

Among major trade partners, exports rose to China (14.1 percent), the US (4.7 percent) and the UK (1.8 percent). Meantime, exports to the Euro Area fell 0.8 percent, in particular to Germany (-6.1 percent) and France (-2.3 percent). Still, there were gains in exports to Italy (1.9 percent), the Netherlands (13.4 percent), Austria (38.2 percent) and Spain (17.1 percent).
 
Imports declined 1.2 percent to CHF 16.1 billion in November, as purchases fell for machinery and electronics (-5.6 percent), metals (-3 percent), and jewelry and bijouterie (-2.9 percent) while imports of chemical and pharmaceutical products were unchanged. On the other hand, imports increased for vehicles (2.5 percent) and textiles, clothing, footwear (3.5 percent).

Among major trade partners, imports from the Euro Area went down 0.2 percent, namely from France (-0.6 percent), the Netherlands (-4.1 percent), Austria (-11.7 percent) and Spain (-3.3 percent), while those from Germany and Italy rose 0.5 percent and 2.9 percent respectively. Also, imports dropped from China (-9.6 percent) and the UK (-6.3 percent) but increased from the US (8.7 percent).
 
Considering January to November, the trade surplus narrowed to CHF 17.51 billion from CHF 21.38 billion in the same period of 2017.




Swiss Customs Administration | Chusnul Ch Manan | chusnul@tradingeconomics.com
12/20/2018 10:53:30 AM



Switzerland Trade Last Previous Highest Lowest Unit
Balance of Trade 3071.48 2548.52 3301.57 -1478.68 CHF million [+]
Current Account 14596.00 22724.00 25032.31 -2851.91 CHF Million [+]
Current Account to GDP 9.80 9.40 14.80 -0.60 percent [+]
Imports 16123.57 16314.14 17984.56 273.20 CHF million [+]
Exports 19195.05 18862.66 19195.05 245.90 CHF million [+]
External Debt 1841937.30 1838035.30 1841937.30 13293.30 CHF Million [+]
Terms of Trade 117.14 112.06 121.41 74.27 Index Points [+]
Capital Flows 20070.23 11300.52 44260.29 -53637.28 CHF Million [+]
Foreign Direct Investment 1088433.00 1061331.00 1088433.00 20958.90 CHF Million [+]
Tourist Arrivals 1958.00 2250.00 2250.00 600.00 Thousand [+]
Gold Reserves 1040.00 1040.00 2590.18 1039.99 Tonnes [+]
Terrorism Index 0.27 0.29 2.03 0.13 [+]
Tourism Revenues 4962.82 4121.43 4971.77 999.10 CHF Million [+]
Weapons Sales 186.00 186.00 589.00 18.00 USD Million [+]

Exports by Country  |   Exports by Category  |   Imports by Country  |   Imports by Category



Switzerland Balance of Trade

In 2017, the Swiss trade surplus narrowed 6 percent from the previous year to CHF 34.8 billion, as imports advanced by 6.9 percent, the steepest increase since 2010 and exports rose by a slower 4.7 percent to a new record high. Aside from the improved economic situation worldwide, the weakening of the Swiss franc and price trends played a decisive role in both directions of trade. The biggest trade surpluses were recorded with the US, the UK, Hong Kong, Japan, Belgium, South Korea and Singapore; and the largest deficits were recorded with Germany, Ireland, Italy, China, Austria and France. This page provides the latest reported value for - Switzerland Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Switzerland Balance of Trade - actual data, historical chart and calendar of releases - was last updated on January of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
3071.48 2548.52 3301.57 -1478.68 1950 - 2018 CHF million Monthly
SA




Country Last Previous
Argentina 979.00 Nov/18
Australia 1925.00 Nov/18
Brazil 6639.00 Dec/18
Canada -2060.10 Nov/18
China 570.60 Dec/18
Euro Area 18967.90 Nov/18
France -5099.00 Nov/18
Germany 20500.00 Nov/18
India -13080.00 Dec/18
Indonesia -1102.00 Dec/18
Italy 3843.00 Nov/18
Japan -737.30 Nov/18
Mexico -2382.00 Nov/18
Netherlands 6983.00 Nov/18
Russia 18984.00 Nov/18
Saudi Arabia 184673.00 Sep/18
Singapore 1943.12 Dec/18
South Africa 3494.40 Nov/18
South Korea 4558.00 Dec/18
Spain -3836500.00 Oct/18
Switzerland 3071.48 Nov/18
Turkey -651.36 Nov/18
United Kingdom -2904.00 Nov/18
United States -55488.00 Oct/18


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