Exports from Switzerland dropped 4.3 percent from a month earlier to CHF 18.7 billion in August 2019, 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). Exports in Switzerland averaged 6650.05 CHF million from 1950 until 2019, reaching an all time high of 20381.94 CHF million in June of 2019 and a record low of 245.90 CHF million in January of 1950.
Exports in Switzerland is expected to be 21750.00 CHF million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Exports in Switzerland to stand at 22920.00 in 12 months time. In the long-term, the Switzerland Exports is projected to trend around 23900.00 CHF million in 2020, according to our econometric models.