Swiss Trade Surplus Grows In November

(RTTNews) - Switzerland's foreign trade surplus increased in November as exports rose amid a fall in imports, data from the Federal Customs Administration showed on Thursday.

The trade surplus rose to CHF 3.0 billion in November from CHF 2.5 billion in October.

In nominal terms, exports climbed 1.6 percent over the month, reversing a 0.5 percent decrease in October. Imports fell 0.8 percent versus a 0.6 percent rise a month ago.

In nominal terms, exports dropped 0.6 percent, while imports were 0.2 percent higher.

The export growth was mostly driven by the 35.0 percent surge in outflows of vehicles. Meanwhile, the country imported 6.4 percent fewer chemical and pharmaceutical products compared to last year.

According to the Federation of the Swiss Watch Industry, watch exports declined 7.3 percent annually in November.