Switzerland June Trade Surplus Improves to CHF 2.6 Billion.
London, Tuesday, 29 July 2022
From a downwardly revised CHF 1.9 billion in May, the Swiss trade surplus improved to CHF 2.6 billion in June of 2022. Exports increased by 2.5 percent from the previous month to a four-month high of CHF 22.7 billion, led by sales of jewellery, watches, precision instruments, equipment, and chemicals and pharmaceuticals.
Sales increased in the United States (19.7%%), Japan (1.5%), Germany (0.3%), Italy (13.7%), France (2.9%), and Spain (9.2 percent ).
Sales, however, decreased to China (-10.3%), Singapore (-13.5%), the UK (-17.8%), and Slovenia (-19.8 percent ). In the meantime, imports of food, beverages, textiles, clothes, and footwear, as well as chemicals and pharmaceuticals, decreased 0.7 percent to CHF 20.2 billion.
On the other hand, purchases of technology, machinery, and energy rose. Germany (-1.2%), the UK (-24.6%), Italy (-0.8%), France (-24.6%), and Japan (-4.6%) saw a decline in imports (-8.5 percent ).
Taking the first half of the year into account, the trade surplus drastically decreased from CHF 23.1 billion in H1 of 2021 to CHF 16 billion.
(Source: Tradereconomics //Report and edit by: The Decision Maker – FDI editors)