Swiss Trade Surplus Rises In February

(RTTNews) - Switzerland's foreign trade surplus decreased in February from a month earlier as exports grew faster than imports, data from the Federal Customs Administration showed on Thursday.

The trade surplus rose to CHF 4.28 billion in February from CHF 4.07 billion in January.

In real terms, exports climbed 4.2 percent monthly, reversing a 3.9 percent decline in January. Imports also rebounded 3.3 after falling 1.4 percent in the prior month.

The growth in exports was largely driven by a 9.5 percent surge in shipments of chemical-pharmaceutical products.

In nominal terms, both exports and imports expanded by 6.6 percent and 7.0 percent, respectively.

According to the Federation of the Swiss Watch Industry, watch exports fell sharply by 8.2 percent year-on-year in February despite a favorable base effect. The decline was largely due to an 8.0 percent contraction in exports of steel watches.