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- Swiss exports continued to grow in the second quarter
Swiss exports continued to grow in the second quarter
According to the report from Federal Statistical Office, the Swiss trade surplus widened sharply to CHF 3.3 billion in June 2019 from a downwardly revised CHF 1.5 billion in the previous month. This was the largest trade surplus since January 2017, as exports rose 8.5 percent to CHF 20.4 billion while imports fell 0.8 percent to CHF 17.1 billion. Considering the first half of the year, the trade surplus widened to CHF 12.9 billion from CHF 8.7 billion in the same period of 2018.
In the second quarter of 2019, seasonally adjusted exports grew by 1.4 percent (in real terms: - 1.0 percent) and at the same time reached a new quarterly high of CHF 58.2 billion. As a result, exports have been on an upward trend since the first quarter of 2017. Imports remained virtually unchanged compared to the previous quarter (+ 0.2 percent, real: + 0.8 percent), which have been showing a sideways movement since the first quarter of 2018. After all, at 51.5 billion Swiss francs, the new import record was also high. The trade balance closed with a surplus of 6.8 billion francs.
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