18.12.202507:29:08UTC+00Swiss Trade Surplus Largest in 3 Months

In November 2025, Switzerland experienced an expansion in its trade surplus, reaching CHF 3 billion, up from a revised CHF 2.5 billion in October. This represents the highest surplus since August. The increase was primarily driven by a 1.6% month-over-month rise in exports, totaling CHF 22.8 billion. Key contributors to this growth were heightened sales in chemical and pharmaceutical products (up 1.5%), machinery and electronics (up 1.5%), and watches (up 0.3%). Exports to the US surged by 7.6%, reversing a 6.9% decline seen in October. This improvement followed a pivotal Swiss-US agreement on November 14, which reduced US tariffs from 39% to 15% in return for Swiss companies committing to a $200 billion investment and allowing greater access for select American agricultural products. On the import front, there was a 0.8% month-over-month decrease, bringing imports down to CHF 19.8 billion. This was largely attributed to reduced imports of chemical and pharmaceutical products (down 6.4%) and food and luxury food items (down 1.2%). Imports from Europe saw a decline of 1.3%, with those from Eurozone countries dropping by 1.4% and from non-Eurozone countries falling by 4.2%.