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Financial News: Swiss Exports Fall For Second Month

Swiss Exports Fall For Second Month

11/17/2022 - 04:01:00 (RTTNews)

(RTTNews) - Switzerland's exports declined for the second consecutive month in October, and at a faster pace, data from the Federal Customs Administration showed on Thursday.

Exports decreased by a real 1.8 percent monthly in October, following the 0.4 percent fall in September.

Imports also logged a negative growth of 0.8 percent over the month, in contrast to a 1.0 percent rise in September.

In nominal terms, both exports and imports dropped by 1.1 percent and 1.4 percent, respectively.

The fall in exports affected a wide range of products, while the import market was impacted by the chemicals and pharmaceuticals sector.

The trade surplus for October was CHF 2.978 billion versus CHF 2.934 billion in September.

According to the Federation of the Swiss Watch Industry, watch exports rose 6.7 percent year-on-year in October.

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