Swiss trade surplus rises

29th May 2009, Comments 0 comments

Switzerland's imports decreased faster than exports in April, official data showed Thursday.

Geneva -- Switzerland's trade surplus in April rose by 62.1 percent year-on-year to CHF 2.6 billion (EUR 1.7 billion, USD 2.4 billion), as imports decreased faster than Swiss exports, official data showed Thursday.

Imports fell 18.6 percent to CHF 12.9 billion during April, as prices of imported goods fell 7.6 percent mainly due to lower energy prices, the Swiss Federal Customs Office said.

Exports fell 17.5 percent to CHF 15.5 billion, with prices holding stable.

After adjusting for the two Easter public holidays, "the decline in exports is smaller than in the two preceding months, while on the import side, the fall has stayed high," the customs authority said.

For the Swiss watch industry, however, exports continued to fall at a similar rate to March.

The value of Swiss watch exports decreased 26.3 percent to CHF 1.0 billion in April, said the Federation of the Swiss Watch Industry.

The main markets of Hong Kong, United States, Japan and France all showed significant declines.

Exports to Hong Kong fell 21.5 percent to CHF 168.3 million, while those to the United States dropped 42.3 percent to CHF 118.0 million.

AFP / Expatica

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