Swiss exports to US boomed in second quarter

Foreign trade picks up in the second quarter Keystone-SDA

Switzerland’s foreign trade picked up significantly in the second quarter, driven mainly by strong sales of pharmaceutical products and a rebound in trade with North America.

Between April and the end of June, exports rose by 8.8% compared with the previous quarter – and, before adjusting for inflation – to CHF73.23 billion. Imports rose by 4.9% to CHF59.3 billion, said the Federal Office for Customs and Border Security.

Swiss foreign trade thus ended the period under review with a solid trade surplus of CHF13.93 billion, a jump of 28.9% compared with the first quarter.

It was mainly international sales of chemical and pharmaceutical products (+15.2%) that drove trade, whilst the machinery, electronics and equipment sector recorded only modest growth (+1.7%). The watchmaking sector, meanwhile, declined by 1.1%.

Despite statements from the United States regarding trade imbalances with Switzerland and the introduction of tariffs, trade with North America remained high (+21.8%). Exports to the United States rose by 21.5% and those to Canada by 12.8%.

The European Union, the leading market for Swiss companies, recorded growth of just 0.4%, with a 2.5% increase to Germany and a 7% rise to France.

Trade with Asia, meanwhile, accelerated by 6.8%, with a 1.2% rise to China and an 8.7% rise to Japan.

In June alone, however, total Swiss exports fell by 4.3% to CHF24.25 billion, whilst imports rose by 3.3% to CHF20.45 billion.

Join the debate:

+ How we produce English news
Translated from French, reviewed by an English Department journalist.