Swiss Trade Surplus Shrinks In Q3

(RTTNews) - Switzerland's foreign trade surplus decreased in the third quarter as exports fell faster than imports, data from the Federal Customs Administration showed on Tuesday.

The trade surplus dropped to CHF 10.2 billion in the third quarter from CHF 12.6 billion in the second quarter. In the same period last year, the surplus was CHF 12.1 billion.

In nominal terms, exports fell 3.9 percent over the quarter versus a 5.2 percent decline in the June quarter. Imports also fell at a slower pace of 0.6 percent, following a 6.5 percent decrease in the second quarter.

Real exports fell 0.2 percent, while imports were 1.8 percent higher.

In September, the trade surplus decreased to CHF 2.8 billion from CHF 3.8 billion in August. Real exports climbed 2.7 percent compared to August, and imports rose by 1.9 percent.

Another report from the Federation of the Swiss Watch Industry showed that watch exports decreased 3.1 percent on a yearly basis in September. Steel watches largely drove the downturn, with a decrease in value of 3.8 percent.