24.04.201802:52:00UTC+00Swiss Trade Surplus Falls In Q1

Switzerland's trade surplus decreased in the first quarter, data from the Federal Customs Administration showed Tuesday.

The trade surplus declined to CHF 6.5 billion from CHF 8.3 billion in the fourth quarter of 2017. In the same period of last year, the surplus totaled CHF 9.9 billion.

Exports declined by real 1.8 percent, reversing a 2.3 percent rise in the previous quarter. At the same time, imports grew at a slower pace of 2 percent, following last quarter's 5.4 percent increase.

In March, exports growth eased to 0.6 percent from 2 percent. Meanwhile, imports advanced 3.9 percent, in contrast to an 8.8 percent drop a month ago.

Elsewhere, a report from the Federation of the Swiss Watch Industry showed that watch exports grew 4.8 percent annually to CHF 1.7 billion.

In the first quarter, watch exports advanced 10.1 percent, the highest quarterly growth since June 2012.