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Financial News: Swiss Exports Falls For Second Month

Swiss Exports Falls For Second Month

05/31/2022 - 05:50:00 (RTTNews)

(RTTNews) - Switzerland's exports declined for a second straight month and at a softer pace in April, data from the Federal Customs Administration showed on Tuesday.

Exports fell by a real 0.1 percent month-on-month in April, following an 8.0 percent drop in March.

Imports decreased 3.8 percent monthly in April, after a 1.4 percent increase in the previous month.

In nominal terms, exports grew 2.5 percent in April and imports decreased 7.7 percent.

The latest growth in exports was mainly due to chemical-pharmaceutical products, and machinery and electronics, while imports of chemical-pharmaceuticals products and energy sources declined.

The trade surplus increased to CHF 3.843 billion in April from CHF 1.836 billion in March.

According to the Federation of the Swiss Watch Industry, the watch exports grew 7.3 percent year-on-year in April.

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