The Swiss trade surplus narrowed sharply to CHF 1.15 billion in August 2019 from a downwardly revised CHF 2.58 billion in the previous month. This was the smallest trade surplus since January 2018, as exports fell while imports rose. Balance of Trade in Switzerland averaged 97.49 CHF million from 1950 until 2019, reaching an all time high of 3302.89 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 4300.00 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 3500.00 in 12 months time. In the long-term, the Switzerland Balance of Trade is projected to trend around 80.00 CHF million in 2020, according to our econometric models.

Switzerland Balance of Trade
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Calendar GMT Actual Previous Consensus TEForecast
2019-06-20 06:00 AM Balance of Trade May CHF1.7B CHF1.9B CHF1.5B
2019-07-18 06:00 AM Balance of Trade Jun CHF3.3B CHF1.5B CHF 1.6B
2019-08-20 06:00 AM Balance of Trade Jul CHF2.7B CHF3.2B CHF2.0B
2019-09-19 06:00 AM Balance of Trade Aug CHF1.15 CHF2.6B CHF2.4B
2019-10-17 06:00 AM Balance of Trade Sep CHF1.15 CHF4.3B
2019-11-19 07:00 AM Balance of Trade Oct CHF2.8B
2019-12-19 07:00 AM Balance of Trade Nov CHF1.8B



Swiss Trade Surplus Smallest in Over 1-1/2 Years

The Swiss trade surplus narrowed to CHF 1.15 billion in August 2019 from a downwardly revised CHF 2.58 billion in the previous month. This was the smallest trade surplus since January last year, as exports fell while imports rose.

Exports dropped 4.3 percent from a month earlier to CHF 18.7 billion in August, due to lower sales of chemical and pharmaceutical products (-5.0 percent), jewellery (-9.8 percent), machinery and electronics (-5.1 percent); food, beverages and tobacco (-1.0 percent); and metals (-2.8 percent). Conversely, sales rose for watchmaking (1.7 percent); precision instruments (0.5 percent).
 
Among major trade partners, exports declined to Germany (-13.6 percent), Italy (-4.6 percent), France (-4.3 percent), Belgium (-10.4 percent), Russia (-22.3 percent), the US (-2.2 percent), the Middle East (-8.0 percent), Hong Kong (-16.0 percent), and Singapore (-17.2 percent). Meanwhile, there were increases in exports to the UK (5.8 percent), the Netherlands (0.7 percent), Spain (0.4 percent), Austria (23.5 percent), Canada (1.9 percent), China (10.4 percent), and Japan (2.7 percent).

Imports increased 3.4 percent to CHF 17.6 billion, mainly due to higher purchases of chemical and pharmaceutical products (2.5 percent), vehicles (3.1 percent); jewellery (22.8 percent); and energy products (3.2 percent). On the other hand, imports dropped for: machinery and electronics (-1.9 percent); food, beverages and tobacco (-1.9 percent); metals (-3.0 percent), and textiles, clothing, footwear (-5.9 percent).

Among major trade partners, imports were up from Germany (0.8 percent), France (19.7 percent), Belgium (14.4 percent), Austria (25.3 percent), the UK (11.7 percent), Spain (0.8 percent), the Middle East (2.8 percent), China (8.7 percent), and the US (2.9 percent). Still, purchases decreased from Italy (-12.4 percent), the Netherlands (-7.1 percent), and Japan (-19.9 percent).
 
Considering the first eight months of the year, the trade surplus widened sharply to CHF 15.8 billion from CHF 11.1 billion in the same period of 2018.
 



Swiss Customs Administration | Chusnul Ch Manan | chusnul@tradingeconomics.com
9/20/2019 2:25:54 PM



Switzerland Trade Last Previous Highest Lowest Unit
Balance of Trade 1152.71 2582.24 3302.89 -1478.68 CHF million [+]
Current Account 21272.85 20553.43 25032.31 -2851.91 CHF Million [+]
Current Account to GDP 10.20 6.70 14.80 -0.60 percent [+]
Imports 17579.05 16995.39 17708.65 273.20 CHF million [+]
Exports 18731.77 19577.64 20381.94 245.90 CHF million [+]
External Debt 1837567.60 1827385.90 1841937.30 13293.30 CHF Million [+]
Terms of Trade 121.59 127.67 127.67 74.27 Index Points [+]
Capital Flows 5849.35 -2299.83 45027.22 -54755.04 CHF Million [+]
Foreign Direct Investment 1088433.00 1061331.00 1088433.00 20958.90 CHF Million [+]
Tourist Arrivals 2003.00 1620.00 2255.00 600.00 Thousand [+]
Gold Reserves 1040.00 1040.00 2590.18 1039.99 Tonnes [+]
Terrorism Index 0.13 0.27 2.03 0.13 [+]
Tourism Revenues 4301.75 3949.18 4946.97 999.10 CHF Million [+]
Weapons Sales 243.00 184.00 530.00 18.00 USD Million [+]

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



Switzerland Balance of Trade

In 2018, the Swiss trade surplus narrowed 10 percent from the previous year to CHF 31.3 billion, as both imports and exports rose the most since 2010 and reached new records despite the global economic uncertainties. The biggest trade surpluses were recorded with the US, Hong Kong, Japan, South Korea, the Netherlands, Australia, Russia, Canada and Brazil; and the largest deficits were recorded with Germany, Ireland, Italy, the UAE, Austria, China 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 September of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
1152.71 2582.24 3302.89 -1478.68 1950 - 2019 CHF million Monthly
SA




Country Last Previous
Argentina 951.00 Jul/19
Australia 7268.00 Jul/19
Brazil 3280.00 Aug/19
Canada -1124.40 Jul/19
China 348.30 Aug/19
Euro Area 24789.70 Jul/19
France -4607.00 Jul/19
Germany 21449.00 Jul/19
India -13450.00 Aug/19
Indonesia 85.10 Aug/19
Italy 7630.87 Jul/19
Japan -136.30 Aug/19
Mexico -1117.00 Jul/19
Netherlands 4127.00 Jul/19
Russia 11224.00 Jul/19
Saudi Arabia 131636.00 Mar/19
Singapore 3787.85 Aug/19
South Africa -2880.82 Jul/19
South Korea 1723.00 Aug/19
Spain -1532700.00 Jun/19
Switzerland 1152.71 Aug/19
Turkey -3191.93 Jul/19
United Kingdom -219.00 Jul/19
United States -53989.00 Jul/19


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