(13.12.2023) Foreign trade experienced a significant decline in October 2023. The decrease in exchanges in the pharmaceutical industry led to a drop of 10.7% in exports and 4.9% in imports, according to the Federal Office of Customs and Border Security (OFDF).
This sharp slowdown comes after two months of strong growth in September (+9.4% exports / +0.6% imports) and August (+7.4% exports / +4.1% imports). These increases themselves followed mixed results in July (-7.2% / -3.4%) and June (-1.6% / +3.7%).
The figures for October seem to confirm the trend of stagnation observed throughout the year 2023. It's worth noting that, despite a more pronounced decline in exports, the trade balance closed with a surplus of 3.4 billion francs.
By sector, the decrease in the volume of pharmaceuticals (-44.9%) sold abroad significantly contributes to the overall decline in exports. The watchmaking sector also experienced a contraction (-2.7%) after two favorable months. However, the vehicle (+7.6%) and precision instrument (+4.1%) sectors recorded sustained growth.
Exports to major markets also declined: -14.1% to North America, -6.9% to Asia, and -5.3% to Europe.
Import figures also show a sharp contraction in the pharmaceutical sector (-19.6%), as well as in jewelry and watchmaking (-14.8%), vehicles (-9.7%), and electronic machinery and equipment (-6.1%). Arrivals from major trading partners, particularly from Europe (-3.8%), North America (-17.8%), and Asia (-1.9%), also slowed down.
Last modification 13.12.2023
