Swiss exports increase significantly again in April
Published: Thursday, May 30th 2024, 08:20
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The Swiss export industry once again sold significantly more goods abroad in April. The increase was also broad-based in terms of goods.
Exports totaled 23.37 billion Swiss francs in April, as reported by the Federal Office for Customs and Border Security (FOCBS) on Thursday. This represents a seasonally adjusted increase in exports of 9.1 percent compared to the previous month. In real terms - i.e. adjusted for price changes - this resulted in an increase of as much as 9.6 percent. This is tantamount to a trend reversal: in the starting quarter, a minus was still recorded.
In terms of product groups, all major export groups grew. The strongest contribution to growth came from chemical-pharmaceutical products at +1.7 billion Swiss francs. The only decline here was in deliveries of immunological products. Exports of jewelry and jewelry goods expanded by a third in April - albeit after massive declines in the two previous months.
From a regional perspective, all major economic areas took more goods from Switzerland in terms of value. North America led the way with +15.3% (USA: +15.9%). However, strong growth was also recorded to Asia (+9.9%).
Meanwhile, imports amounted to CHF 19.46 billion in April, which corresponds to a nominal increase of 5.9% and a real increase of 3.2%. With the exception of vehicles, all product groups recorded an increase in imports. Imports increased significantly, particularly from Asia (+12.7%).
The surplus in the trade balance finally amounted to CHF 3.91 billion after CHF 2.85 billion in the previous month.
©Keystone/SDA
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