Swiss Trade Surplus Shrinks In October

(RTTNews) - Switzerland's foreign trade surplus decreased in October as exports fell amid an increase in imports, data from the Federal Customs Administration showed on Thursday.

The trade surplus decreased to CHF 2.62 billion in October from CHF 2.74 billion in September.

In real terms, exports fell 0.6 percent over the month, reversing a 2.8 percent increase in September. On the other hand, imports rose at a slower rate of 0.1 percent versus a 2.0 percent growth a month ago.

Vehicle exports plunged 19.2 percent, and those of jewelry and related items slid by 11.3 percent.

In nominal terms, exports declined 0.3 percent, while imports rose by 0.2 percent.

According to the Federation of the Swiss Watch Industry, watch exports dropped 4.4 percent annually in October. Bimetallic and steel watches logged 7.2 percent lower exports, and those made from precious metals decreased by 1.0 percent.