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Financial News: Swiss Exports Fall In October

Swiss Exports Fall In October

11/19/2020 - 05:22:00 (RTTNews)

(RTTNews) - Switzerland's exports fell for the second straight month in October, data from the Federal Customs Administration showed on Thursday.

Exports decreased by a real 0.5 percent month-on-month in October, following a 1.8 percent fall in September.

Imports dropped 3.4 percent monthly in October, after a 3.4 percent rise in the previous month.

Exports and imports of chemical-pharmaceutical products declined in October.

In nominal terms, exports fell 0.4 percent in October and imports decreased 3.3 percent.

The trade surplus increased to CHF 2.871 billion in October from CHF 2.425 billion in the previous month.

According to the Federation of the Swiss Watch Industry, watch exports declined 7.1 percent year-on-year in October.

In the first ten months of the year, watch exports decreased 25.8 percent year-on-year. This was the sharpest decline recorded in over last eighty years.

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