Switzerland’s exports declined for the third straight month and at a faster pace in April, data from the Federal Customs Administration showed on Tuesday.
Exports decreased by a real 10.0 percent month-on-month in April, following a 3.1 percent fall in March.
Imports declined 17.8 percent monthly in April, following a 6.0 percent fall in the previous month.
The biggest decline was seen in the exports of jewelry and jewelry divisions by 77.0 percent. Imports of chemical-pharmaceutical products decreased 4.8 percent.
In nominal terms, exports dropped 11.7 percent in April and imports declined 21.9 percent.
The trade surplus increased to CHF 4.3 billion in April from CHF 3.07 billion in the previous month.
According to the Federation of the Swiss Watch Industry, watch exports dropped 81.3 percent year-on-year in April.
The material has been provided by InstaForex Company – www.instaforex.com
- Spain's Service Sector Returns To Growth - July 3, 2020
- South Africa Private Sector Downturn Slows In June - July 3, 2020
- Turkey Consumer Price, Producer Price Inflation Rises In June - July 3, 2020