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Financial News: Swiss Export Growth Improves In August

Swiss Export Growth Improves In August

09/17/2020 - 02:55:00 (RTTNews)

(RTTNews) - Switzerland's exports rose for the third straight month in August and surpassed the CHF 18 billion mark for the first time since March, data from the Federal Customs Administration showed on Thursday. Exports increased by a real 2.9 percent month-on-month in August, following a 2.0 percent rise in July.

Imports declined 1.3 percent monthly in August, after a 0.5 percent rise in the previous month.

The biggest growth was seen in the exports of chemical-pharmaceutical products in August, while their imports declined.

In nominal terms, exports rose 3.7 percent in August and imports decreased 1.8 percent.

The trade surplus increased to CHF 3.414 billion in August from CHF 2.489 billion in the previous month.

According to the Federation of the Swiss Watch Industry, watch exports declined 11.9 percent year-on-year in August.

In the first eight months of the year, watch exports decreased 30.5 percent year-on-year.

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