Swiss May Exports Fall as Strong Franc Hits Demand

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The FINANCIAL — Switzerland’s exports fell in May as the strength of the Swiss franc curbed demand in the European Union and the U.S. for its chemicals, pharmaceuticals and watches, according to Nasdaq.

Exports in May slipped 2.3% from a year earlier, in real terms, to 15.46 billion Swiss francs ($16.8 billion), the customs office said on June 18. In nominal terms, exports dropped 11%, it said.

Imports reached CHF12.03 billion, down 12.4% in real terms and 17% lower in nominal terms.

The May trade surplus widened to CHF3.4 billion from CHF2.7 billion in April.

Watch exports in May dropped a nominal 8.9%, according to the customs office. Watch exports were worth CHF1.71 billion, for a decline of 5% in real terms.

 

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