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Financial News: Swiss Exports Rebound In August

Swiss Exports Rebound In August

09/20/2022 - 03:10:00 (RTTNews)

(RTTNews) - Switzerland's exports rebounded strongly in August, after falling for the first time in four months in July, data from the Federal Customs Administration showed on Tuesday.

Exports increased by a real 2.1 percent month-on-month in August, reversing a 3.6 percent fall in July.

Imports also climbed 1.3 percent from July, when they fell by 3.3 percent.

In nominal terms, both exports and imports grew by 1.4 percent and 1.5 percent, respectively, in August from a month ago.

The latest upturn in exports was primarily due to increased outflows of jewelry, machinery and electronic items, chemical and pharmaceutical items.

Meanwhile, shipments of paper and graphic products fell sharply by 49.2 percent versus a 92.5 percent surge in the prior month.

The trade surplus decreased slightly to CHF 2.344 billion in August from CHF 2.347 billion in July.

According to the Federation of the Swiss Watch Industry, watch exports rose notably by 14.7 percent year-on-year in August.

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