Moderate recovery in Swiss exports to Asia

Swiss exports to Asia recovered slightly in the first six months of this year, climbing 2.2 percent but remaining well below the level seen before the Asian financial crisis.

Swiss exports to Asia recovered slightly in the first six months of this year, climbing 2.2 percent but remaining well below the level seen before the Asian financial crisis.

The Federal Customs Office said Tuesday that exports increased in all key Asian markets, except for Thailand and Hong Kong.

The total value of goods exported to Asia amounted to SFr3,158 billion ($2,105 billion), which is 5.8 percent of all Swiss exports.

The office said that even though exports were clearly picking up again after a major collapse in 1998, Asian exports were still 2 percent down from what they were before the Asian crisis caused a downturn in financial and industrial trading.

Notable exceptions to that rule are Swiss exports to Japan, which have virtually remained the same since 1997, and China, where exports increased by 21.7 percent.

From staff and wire reports.