Swiss Trade Surplus Grows In January

(RTTNews) - Switzerland's foreign trade surplus increased in January 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 3.6 billion in January from CHF 2.9 billion in December.

In real terms, exports climbed 3.6 percent monthly, much faster than the 0.1 percent increase in December. Imports rebounded 1.0 percent after falling 0.3 percent in the prior month.

The growth in exports was largely driven by a 7.8 percent surge in shipments of chemical-pharmaceutical products.

In nominal terms, exports advanced 2.3 percent, while imports were 0.9 percent lower.

According to the Federation of the Swiss Watch Industry, watch exports declined 3.6 percent year-on-year in January. Watches made from precious metals, along with steel models, accounted for most of the decrease.