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Financial News: Swiss Trade Surplus Grows In Q1

Swiss Trade Surplus Grows In Q1

04/27/2017 - 02:55:00 (RTTNews)

(RTTNews) - Switzerland's foreign trade surplus increased in the three months ended March, as exports grew faster than imports, data from the State Secretariat for Economic Affairs showed Thursday.

The trade surplus rose to CHF 10.8 billion in the first quarter from CHF 9.6 billion in the corresponding period last year. In the fourth quarter, the surplus was CHF 8.5 billion.

In nominal terms, exports climbed 2.4 percent year-over-year in the March quarter and imports edged up by 0.1 percent. However, exports dropped 0.1 percent in real terms and imports slid by 4.2 percent.

In March, the trade surplus declined notably to CHF 2.8 billion from CHF 15.1 billion in the same period of 2016. In February, the surplus was CHF 3.3 billion.

In real terms, both exports and imports decreased by 0.4 percent and 7.0 percent, respectively in March from a year ago. Month-on-month, exports rose 2.5 percent, while imports went down by 1.4 percent.

A report released by the Federation of the Swiss Watch Industry showed that watch exports registered its first monthly rise in March after declining in the previous twenty months. Watch exports grew 7.5 percent year-over-year to CHF 1.6 billion.

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