FX.co ★ Swiss Trade Surplus Shrinks To CHF 2.2 Bln

The foreign trade surplus of Switzerland saw a decrease in February compared to the prior month, as import growth outpaced exports, according to data released by the Federal Customs Administration on Tuesday. The trade surplus shrunk to CHF 2.2 billion in February, down from CHF 2.7 billion in January.

In real terms, there was a modest growth in exports, with a 0.2 percent increase after a 0.5 percent drop in January. Imports, on the other hand, experienced a significant rebound with a 3.8 percent rise following a 3.9 percent decrease in the previous month.

There was noted growth in the food product sector, which saw a 3.0 percent increase in shipments for the month. Conversely, jewellery saw a marked decline, with a 13.5 percent decrease.

In nominal terms, both exports and imports experienced growth, by 0.1 percent and 2.9 percent respectively.

The Federation of the Swiss Watch Industry reported a 3.8 percent year-on-year decline in watch exports for February. This was the first reported decline in just over two years, primarily due to an unfavourable base effect and a significant drop in the Greater China region, despite other markets seeing a noticeable increase.