(02.10.2024) Foreign trade saw a slight contraction, according to the Federal Office for Customs and Border Security (FOCBS). Exports dropped to 22.12 billion francs (-1.2%) in August, while imports remained relatively stable at 18.26 billion francs (-0.1%).
The decline in exports, which began in July, continued into August, though at a slower pace. Switzerland's international trade still posted a surplus of 3.8 billion francs. This overall dip was largely driven by a decrease in exports of chemical and pharmaceutical products (-279 million francs).
Other sectors, such as metals (-11.1%), precision instruments (-41 million), and machinery and electronics (-32 million francs), also saw drops in foreign sales. In contrast, the watchmaking industry experienced a significant rise (+5.9%) during the same period.
Demand from the United States decreased sharply (-618 million francs), while shipments to Europe (+218 million francs) and Asia (+0.6%) increased. Deliveries to Spain, in particular, marked their strongest growth (+30.4%) in the past fifteen months.
On the import side, chemical and pharmaceutical products saw a significant boost (+231 million francs), helping to offset an overall drop in incoming goods. Out of twelve merchandise groups, nine reported a decrease in imports in August, including energy products (-94 million francs), precision instruments (-64 million francs), and machinery and electronics (-59 million francs).
Trade with North America also declined (-77 million francs), while imports from Europe surged by 192 million francs.
Last modification 02.10.2024
