The Swiss trade surplus widened sharply to CHF 3.3 billion in June 2019 from a downwardly revised CHF 1.5 billion in the previous month. This was the largest trade surplus since January 2017, as exports rose 8.5 percent to CHF 20.4 billion while imports fell 0.8 percent to CHF 17.1 billion. Considering the first half of the year, the trade surplus widened to CHF 12.9 billion from CHF 8.7 billion in the same period of 2018. Balance of Trade in Switzerland averaged 93.50 CHF million from 1950 until 2019, reaching an all time high of 3300 CHF million in June of 2019 and a record low of -1478.68 CHF million in August of 1989.

Balance of Trade in Switzerland is expected to be 3300.00 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 1770.00 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
2019-04-18 06:00 AM Balance of Trade Mar CHF2.5B CHF1.99B CHF 2.1B
2019-05-28 06:00 AM Balance of Trade Apr CHF1.9B CHF2.5B CHF2.1B
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 CHF3.3B CHF2.0B
2019-09-19 06:00 AM Balance of Trade Aug CHF2.4B
2019-10-17 06:00 AM Balance of Trade Sep CHF 3.3B



Swiss Trade Surplus Largest in Nearly 2-1/2 Years

The Swiss trade surplus widened sharply to CHF 3.3 billion in June 2019 from a downwardly revised CHF 1.5 billion in the previous month. This was the largest trade surplus since January 2017, as exports rose while imports fell.

Exports increased 8.5 percent from a month earlier to CHF 20.4 billion in June, driven by sales of chemical and pharmaceutical products (23.8 percent). By contrast, sales decreased for machinery and electronics (-7.5 percent); food, beverages and tobacco (-1.3 percent); metals (-4.7 percent); watchmaking (-7.1 percent); precision instruments (-4.2 percent), and jewellery (-8.5 percent).

Among major trade partners, exports rose to the US (15.8 percent); Spain (13.8 percent); the Netherlands (18.7 percent); Ireland (9.1 percent); Austria (1.7 percent); Singapore (5.8 percent); Hong Kong (3.8 percent), and South Korea (2.6 percent). Meantime, there were decreases in exports to China (-4.8 percent); Japan (-3.4 percent); Germany (-0.6 percent); France (-1.5 percent), and Italy (-3.9 percent).

Imports declined 0.8 percent to CHF 17.1 billion, mainly due to lower purchases of machinery and electronics (-2.6 percent); jewellery (-23.1 percent); and metals (-1.7 percent). On the other hand, imports rose for: pharmaceutical products (6.0 percent); vehicles (2.8 percent); textiles, clothing, footwear (0.3 percent), and food, beverages and tobacco (2.7 percent)

Among major trade partners, imports went down from the US (-7.2 percent); China (-0.9 percent); Germany (-4.1 percent); France (-13.2 percent); Belgium (-17.2 percent); Italy (-1.0 percent); Spain (-4.9 percent); Austria (-9.4 percent), and Singapore (-16.6 percent) while imports fell from Japan (9.0 percent); Ireland (30.2 percent).

Considering the first half of the year, the trade surplus widened to CHF 12.9 billion from CHF 8.7 billion in the same period of 2018.
 
 



Swiss Customs Administration | Chusnul Ch Manan | chusnul@tradingeconomics.com
7/18/2019 7:14:04 AM



Switzerland Trade Last Previous Highest Lowest Unit
Balance of Trade 3251.00 1517.00 3268.12 -1478.68 CHF million [+]
Current Account 17215.95 15181.70 25032.31 -2851.91 CHF Million [+]
Current Account to GDP 10.20 6.70 14.80 -0.60 percent [+]
Imports 17131.00 17272.00 17759.64 273.20 CHF million [+]
Exports 20382.00 18789.00 20382.00 245.90 CHF million [+]
External Debt 1837567.60 1827385.90 1841937.30 13293.30 CHF Million [+]
Terms of Trade 127.67 117.14 127.67 74.27 Index Points [+]
Capital Flows -3522.43 20968.67 45027.22 -54755.04 CHF Million [+]
Foreign Direct Investment 1088433.00 1061331.00 1088433.00 20958.90 CHF Million [+]
Tourist Arrivals 1371.00 1524.00 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 3991.53 3610.62 5003.60 999.10 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 July of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
3251.00 1517.00 3268.12 -1478.68 1950 - 2019 CHF million Monthly
SA




Country Last Previous
Argentina 1373.00 May/19
Australia 5745.00 May/19
Brazil 5020.00 Jun/19
Canada 762.30 May/19
China 509.76 Jun/19
Euro Area 23033.60 May/19
France -3278.00 May/19
Germany 20600.00 May/19
India -15280.00 Jun/19
Indonesia 196.00 Jun/19
Italy 5347.00 May/19
Japan 589.46 Jun/19
Mexico 1030.71 May/19
Netherlands 5579.00 May/19
Russia 11823.00 May/19
Saudi Arabia 131636.00 Mar/19
Singapore 2447.29 Jun/19
South Africa 1737.21 May/19
South Korea 4168.00 Jun/19
Spain -1605300.00 Apr/19
Switzerland 3251.00 Jun/19
Turkey -1837.83 May/19
United Kingdom -2324.00 May/19
United States -55520.00 May/19


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