Export surge boosts trade surplus
Switzerland's trade surplus has widened after an 18.3 per cent rise in exports in April.
Exports worth SFr18.7 billion ($18.2 billion) led to a SFr 1.6 billion merchandise trade surplus against imports, the Federal Customs Office reported on Tuesday.
The trade surplus has more than doubled compared with the same month a year ago when it stood at SFr628 billion
The results were coupled with a 22 per cent leap in watch industry exports to SFr1.4 billion. The industry said there had been a “spectacular” rise in watch exports of 350,000 in April.
The Federation of the Swiss Watch Industry said last month’s figures established Hong Kong as the leading Swiss watch and movement export market, followed by the United States.
Overall Switzerland sold more goods in all markets, with rapid growth experienced in the precision instruments, food, chemicals and watch sectors.
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