Financial News: Swiss Trade Surplus Grows In Q2 On Strong

Swiss Trade Surplus Grows In Q2 On Strong Exports

07/18/2024 - 04:22:00 (RTTNews)

(RTTNews) - Switzerland's foreign trade surplus increased in the second quarter as exports grew amid a fall in imports, data from the Federal Customs Administration showed on Thursday.

The trade balance rose to CHF 12.4 billion in the second quarter from CHF 9.4 billion in the first quarter. In the same period last year, the surplus was CHF 9.05 billion.

In real terms, growth in exports accelerated to 3.5 percent in the June quarter from 1.1 percent in the previous quarter. At the same time, imports fell 0.8 percent versus a 1.6 percent recovery in the first quarter.

Nominal exports grew 6.6 percent, reaching a new high in the June quarter, the agency said.

In June, the trade surplus rose to CHF 4.9 billion from CHF 4.2 billion in May, data showed. In nominal terms, exports climbed 1.2 percent monthly, while imports dropped by 2.2 percent.

Another report from the Federation of the Swiss Watch Industry showed that watch exports decreased 7.2 percent on a yearly basis to CHF 2.3 billion in June. There was also a 3.3 percent decline in sales during the first half of this year compared to the same period in 2023.

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