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Financial News: Swiss Exports Fall In December

Swiss Exports Fall In December

01/28/2021 - 06:29:00 (RTTNews)

(RTTNews) - Switzerland's exports declined in December, data from the Federal Customs Administration showed on Thursday.

Exports decreased by a real 6.4 percent month-on-month in December, after a 5.6 percent growth in November.

Imports declined 6.7 percent monthly in December, after a 4.7 percent rise in the previous month.

In nominal terms, exports fell 6.1 percent in December and imports decreased 7.1 percent.

In 2020, the trade surplus increased to CHF 43.0 billion from CHF 37.2 billion in 2019. Exports declined by a real 11.0 percent and imports fell 13.6 percent.

In nominal terms, exports decreased 7.1 percent in 2020 and imports dropped 11.2 percent.

Both exports and imports declined for a second consecutive year and to the lowest in the survey history due to the COVID-19 pandemic, the agency said.

In the fourth quarter, the trade surplus was CHF 9.3 billion versus CHF 8.0 billion in the previous quarter. Exports rose by a real 0.1 percent and imports fell 1.9 percent.

According to the Federation of the Swiss Watch Industry, watch exports declined 2.5 percent year-on-year in December.

In 2020, watch exports decreased 21.8 percent.

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