Exports see steepest decline in decades

Swiss exports dropped 17 per cent to SFr 65 billion ($63 billion) in the second quarter of 2009, the steepest fall in nearly 40 years.

This content was published on September 30, 2009 - 12:47

The sales slump affected all goods categories and most service categories, according to quarterly figures compiled by the Swiss National Bank.

The receipts surplus from trade in goods and services contracted by SFr2 billion to SFr15 billion.

Compared with the same quarter last year, receipts from foreign trade in goods declined significantly by 19 per cent.

Exports of metal goods were most severely affected (–41%), but the machinery industry also suffered a sharp slowdown in exports (–29%), the bank said.

Receipts from cross-border trade in services dropped by 12 per cent year-on-year. Receipts were lower in most service categories. One of the main contributing factors was the decline in bank financial services, which was down 12 per cent. with agencies

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