The FINANCIAL - Swiss August Exports Slip as Franc Hits EU, China Demand

Swiss August Exports Slip as Franc Hits EU, China Demand

Swiss August Exports Slip as Franc Hits EU, China Demand

The FINANCIAL -- Switzerland's exports fell in August as the strength of the Swiss franc hit demand in the European Union and China for its chemicals, pharmaceuticals, machinery and watches, according to Nasdaq.

Exports in August fell 2.1% from a year earlier, in real terms, to 14.23 billion Swiss francs ($14.64 billion), the customs office said on September 22. In nominal terms, exports dropped 4.5%, it said.

Imports reached CHF11.36 billion, down 7.4% in real terms and 16.4% lower in nominal terms.

The August trade surplus narrowed to CHF2.87 billion from CHF3.58 billion in July.

Watch exports in August fell a nominal 1.6%, according to the customs office. Watch exports were worth CHF1.47 billion, for a decline of 4.1% in real terms.

 

Author: The FINANCIAL


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