Exports stabilized in November
Published: Tuesday, Dec 19th 2023, 08:20
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Swiss foreign trade showed a divergent trend in November. While exports stabilized compared to the previous month, imports increased significantly.
In total, exports amounted to CHF 21.2 billion in November, as reported by the Federal Office for Customs and Border Security (FOCBS) on Tuesday. Although this represents a slight seasonally adjusted decrease of 0.5% compared to the previous month, in real terms - i.e. adjusted for price changes - exports rose by 1.8%. Looking ahead to the start of 2023, exports are now trending slightly downwards, according to the report.
Imports in the month under review amounted to 19.2 billion, which corresponds to a high increase of 7.2% in nominal terms and 1.7% in real terms. According to the statement, this confirmed the stagnation registered since spring 2023. According to the BAZG, the pharmaceuticals division overstated the respective overall result in both trading directions.
The difference between exports and imports caused the surplus in the trade balance to shrink to CHF 2.01 billion (VM 3.41 billion). This is the lowest level since November 2022.
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