topics
tools
Expatica countries
Index Last Var.(%)
BEL 20 2119.44 0.28
DAX 6339.94 0.38
IBEX 30 6543 0.13
CAC 40 3047.94 0.32
FTSE 100 5351.53 0.03
AEX 292.76 0.23
DJIA 12454.83 -0.60
Nasdaq 2837.53 -0.07
FTSE MIB 13154.8 0.36
TSX Composite 11576.47 0.09
ASX 4081.2 -0.61
Hang seng 18713.41 0.25
Straits Times 2772.75 -0.24
ISEQ 20 500.94 1.55
You are here: Home News Swiss News Swiss foreign trade continues to fall in May

Swiss News

archive
Enlarge font Decrease font Text size


24/06/2009Swiss foreign trade continues to fall in May

Switzerland’s watchmaking, metallurgy, electronics and machine tools industries are especially affected by the drop in imports and exports.

Related Articles

Swiss trade surplus rises

Zurich -- Switzerland's foreign trade fell sharply in May but the trade surplus grew three percent to CHF 2.01 billion (EUR 1.3 billion, USD 1.8 billion), official data showed Tuesday.

Imports fell 21.8 percent from May 2008 to CHF 12.25 billion while exports dropped 19.1 percent to CHF 14.26 billion, the Federal Customs Office said in a statement.

Trade with the European Union, Switzerland's largest trading partner, fell by more than average, the customs office said, signalling "no sign of hope on the horizon."

Imports and exports fell by about 15 percent in the first five months of 2009, especially affecting the country's key watchmaking, metallurgy, electronics and machine tools industries.

Watch exports continued their slide, falling 27.6 percent in May to CHF 1.1 billion, the Swiss watchmaking federation (FH) said, with a collapse seen in the normally more resilient luxury segment.

In the first five months of 2009, foreign sales of Swiss watches and components dropped by a quarter compared to the same period in 2008.

Exports in the upper price segment -- above CHF 3,000 -- fell 35 percent in May.

The hardest-hit watch markets included the United States, with a drop of 42.7 percent, followed by Japan, off 30.3 percent and Hong Kong, down 26.2 percent.

AFP / Expatica


0 reactions to this article

Be the first person to add a comment

General rating: Not rated yet

Rate article:    Add my rating



0 reactions to this article

Be the first person to add a comment
Discussion Forums

Finding your way in Switzerland

Trekking and Backpacking

Community Noticeboard Switzerland

Let's coach..Saturday.Free.In English.

Finding your way in Switzerland

Chinese Nanny (Ayi) wanted

Finding your way in Switzerland

Need Househelp who prepares Thai food

Student forum Switzerland

@SAP Business Objects Online Training in Netherlands by SAP BOSS

participate in the forums

Inside Expatica
Residence and work permits in Switzerland

Residence and work permits in Switzerland

How to apply for a residency or work permit in Switzerland for you and your family.

How to rent and buy a house in Switzerland

How to rent and buy a house in Switzerland

Information about renting property and obtaining a mortgage in Switzerland.

Switzerland's healthcare system

Switzerland's healthcare system

Information about the Swiss healthcare system, health insurance, pharmacies and emergency numbers.

Banking in Switzerland

Banking in Switzerland

Explaining Swiss currency, banknotes, credit cards and bureaux de change.