Swiss trade drops sharply in September
Switzerland's foreign trade suffered a sudden drop in September. Exports were down for the first time in 2001, by 9.3 per cent in value compared to the same period last year.
Total exports reached SFr10.3 billion ($6.2 billion) last month, a drop of nearly nine per cent in volume. Imports were worth SFr9.9 billion.
According to the federal finance ministry, only the chemical and clothing industries bucked the export trend.
The ministry said on Tuesday the machine and electronics industries’ performance was particularly disappointing. For imports apart from pharmaceuticals, all sectors were down in September.
Over the first nine months of the year, foreign trade growth has slowed. Exports have increased 6.4 per cent in value compared with the same period last year, and imports 4.8 per cent.
Trade with the United States has suffered in both directions. Imports have dropped by nearly one sixth and exports have stagnated.
Switzerland’s trade surplus is SFr219.8 million at the end of September, versus a SFr1.2 billion deficit for the same period in 2000.
swissinfo with agencies
In compliance with the JTI standards
More: SWI swissinfo.ch certified by the Journalism Trust Initiative
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.