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Financial News: Swiss Exports Rises In February

Swiss Exports Rises In February

03/19/2019 - 10:08:00 (RTTNews)

(RTTNews) - Switzerland's exports rose the most in four months in February, while imports decreased steeply, data from the Federal Customs Administration showed on Tuesday.

Exports grew a real 1.3 percent month-on-month in February, after a 0.9 percent rise in January. That was the biggest increase since a 6.7 percent surge in October. Exports rose for a second month.

On a monthly basis, imports decreased a real 3 percent, partially reversing a 5.4 percent rise in the previous month. Imports fell for the first time in three months.

The trade surplus rose to CHF 2.0 billion in February from CHF 1.4 billion in January.

The chemical and pharmaceutical products made the biggest contribution to export growth in February. Their turnover set a monthly record of CHF 9.5 billion.

Data from the Federation of Watch Exporters, or FHS, showed that watch exports rose 3.4 percent annually in February.

Exports to the North America and Europe grew in February, while those to Asia decreased.

Imports of jewelry and vehicles decreased.

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