Financial News: Swiss Trade Surplus Grows To CHF 3.2 Bln

Swiss Trade Surplus Grows To CHF 3.2 Bln

09/19/2023 - 03:50:00 (RTTNews)

(RTTNews) - Switzerland's foreign trade surplus increased in August as exports rose faster than imports, data from the Federal Customs Administration showed on Tuesday.

The trade surplus rose to CHF 3.21 billion in August from CHF 2.55 billion in the previous month.

In real terms, exports rebounded 5.9 percent monthly in August versus a 4.9 percent decline in July.

Similarly, imports logged a 1.5 percent gain in August, in contrast to a 1.8 percent gain in July.

In nominal terms, both exports and imports grew by 3.8 percent and 6.6 percent, respectively.

According to the Federation of the Swiss Watch Industry, watch exports rose 4.0 percent year-on-year in August. This development confirmed the normalisation of growth expected during the second half of the year.

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