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Switzerland's trade balance swings into the red

Switzerland had a trade deficit of SFr259.3 million ($144 million) in October as imports expanded at more than twice the rate of exports.

Imports grew by 19.3 per cent, while exports increased by 8.9 per cent.

Figures released on Thursday by the finance ministry showed that the cost of imports rose due to higher energy prices and increases in prices of raw materials and semi-finished goods.

In the first 10 months of the year, imports grew by 14 per cent in value and 7.6 per cent in volume. Exports are up 11.9 per cent in value and 8.3 per cent in volume.

swissinfo with agencies

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