Swiss exports fall in second quarter of 2025
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Swiss exports fall in second quarter of 2025
Switzerland’s foreign trade declined between April and June, in terms of both exports and imports, following a record set in the previous quarter. The chemicals and pharma sector was the main cause of this slowdown.
From April to June, the economy posted a trade surplus of CHF13.4 billion ($16.7 billion), according to figures published on Thursday by the Federal Office for Customs and Border Security (FOCBS).
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Seasonally adjusted exports contracted by 5.3% (in real terms -1.4%) compared with the first quarter, to CHF70.1 billion, while imports fell by 7.1% (real -4.5%) to CHF56.7 billion.
In the second quarter, it was again chemicals and pharmaceuticals which contributed most to the decline in exports. After two half-years of strong growth, exports in this sector fell by 9.6%, more than a third of which was due to lower deliveries of medicines.
Jewellery, textiles, clothing and footwear also suffered. Conversely, watchmaking (+2.6%) and the machinery and electronics sector (+1.4%) saw sales increase in 2025 for the second time in a row, whereas previous quarters had seen a downward trend.
Important pharma
On the import side, chemical and pharma products had by far the biggest impact on this result, with a fall of 14.2%. Energy products also saw a big contraction (-15.1%, due to prices), as did, albeit to a lesser extent, metals and precision instruments. The cumulative decline in these three sectors amounted to CHF676 million.
In June alone, seasonally adjusted exports rose by 8.6% (actual +6.1%) to almost CHF23 billion. Exports of chemical and pharmaceutical products were the main drivers of this growth.
Imports fell slightly by 1.5% (actual +0.7%) to CHF18.7 billion. The balance of trade showed a surplus of CHF4.3 billion in June.
Translated from French by DeepL/dos
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