Swiss Trade Surplus Shrinks In July

(RTTNews) - Switzerland's foreign trade surplus decreased in July amid a continued fall in exports, data from the Federal Customs Administration showed on Tuesday.

The trade surplus dropped to CHF 4.1 billion in July from CHF 4.8 billion in June.

In real terms, exports declined 1.8 percent over the month, faster than the 0.2 percent fall in June. Meanwhile, imports remained flat in July, versus a 0.8 percent increase in June.

Shipments of chemical-pharmaceutical products decreased by 2.8 percent over the month, while those of jewelry items surged by 27.1 percent.

In nominal terms, exports were 2.7 percent lower, while imports showed a recovery of 0.3 percent.

According to the Federation of the Swiss Watch Industry, watch exports rose 1.6 percent year-on-year in July. The growth was mainly due to watches made from precious metals, the FIH said.