Swiss Trade Surplus Falls In August

Swiss Trade Surplus Falls In August


Swiss trade surplus declined in August from a month earlier, data released by Swiss Federal Customs Administration showed Thursday.
The surplus fell to CHF 1.733 billion in August from CHF 2.88 billion in July. The trade balance for the first eight months of the year was a surplus of CHF 16.2 billion.
In August, exports rose 4.4 percent year-on-year in real terms following 0.8 percent gain in July. On a working day adjusted basis, exports grew 4.2 percent. The dynamic growth in overall shipments mainly reflected improved demand for precision instruments, watches and chemicals and pharmaceuticals.
Imports grew 0.9 percent annually in August following a 2.3 percent increase in July. On a working day adjusted basis, imports rose 0.6 percent.
Separately, the Federation of the Swiss Watch Industry reported that Swiss watch exports grew 12.7 percent year-on-year in August to CHF 1.5 billion. During the first eight months of the year, watch exports recorded a growth of 16 percent.