2017.02.2102:28:00UTC+00Swiss Trade Surplus Increases Notably In January

Switzerland's trade surplus increased in January as imports declined sharply from prior month, the Federal Customs Administration reported Tuesday.

The trade surplus rose to CHF 4.7 billion in January from CHF 2.7 billion in December.

Month-on-month, exports fell 4 percent, in contrast to a 9.7 percent rise in December. At the same time, imports slid 5.3 percent versus a 0.6 percent fall in the prior month.

On a yearly basis, exports growth slowed to 2.3 percent from 6.2 percent, while imports declined 6.8 percent, reversing December's 1.8 percent increase.

Swiss watch exports continued to decline in January, data from the Federation of the Swiss Watch Industry FH showed today. Exports had fallen 6.2 percent annually to CHF 1.4 billion.

The fall in value was attributable once again to watches in precious metal, while steel timepieces confirmed their recovery. However, the trend in volume terms was still downwards.