The Swiss trade surplus widened to CHF 2.64 billion in October 2018 from a downwardly revised CHF 1.27 billion in the previous month.
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It was the largest trade surplus since January 2017, as exports rose 6 percent to CHF 18.86 billion while imports fell 1.8 percent to CHF 16.22 billion.
Exports increased 6 percent from a month earlier to CHF 18.86 billion in October, boosted by increases in sales of watchmaking (4.2 percent), precision instruments (0.4 percent); metals (0.4 percent); chemical and pharmaceutical products (11.5 percent), and machinery and electronics (0.3 percent). By contrast, there was a decreases in exports of jewelry and bijouterie (-9.6 percent).
Among major trade partners, exports to the EU rose 6.5 percent, mainly to Germany (3.8 percent), France (6.1 percent), the Netherlands (40.4 percent), and Spain (6.1 percent) while those to Italy declined 1.1 percent. In addition, sales increased to China (7 percent), Japan (1.8 percent), and the US (0.7 percent). By contrast, exports dropped to Canada (-10.5 percent); the UEA (-11.4 percent), and Poland (-7.4 percent).
Imports declined 1.8 percent to CHF 16.22 billion in October, as purchases fell for vehicles (-1.7 percent); chemical and pharmaceutical products (-10.6 percent), and machinery and electronics (-1.2 percent). Meanwhile, imports increased for jewelry and bijouterie (7.9 percent); metals (3 percent), and textiles, clothing, footwear (3.5 percent).
Among major trade partners, imports from the EU went down 0.3 percent, namely from Germany (-0.7 percent), Italy (-3.9 percent), and the Netherlands (-8 percent) while those from France and Spain rose 18.4 percent and 8.5 percent, respectively. Also, imports dropped from the US (-4.4 percent); (-31.7 percent); Singapore (-9.5 percent); Canada (-36.1 percent), and Hong Kong (-31.7 percent) but increased from China (11.7 percent); Japan (38.6 percent).
Considering January to October, the trade surplus narrowed sharply to CHF 14.3 billion from CHF 20.1 billion in the same period of 2017. ■