The Swiss Export Economy is Recovering Thanks to the Pharmaceutical Industry
Published: Thursday, Oct 19th 2023, 10:10
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In the third quarter of 2021, Swiss exports saw a significant increase, mainly due to a surge in exports of pharmaceutical and chemical products. Exports of pharmaceutical and chemical products increased by 1.5 billion francs, driven by strong demand for immunological products and active ingredients. Exports of machinery, electronics and metal products, however, decreased by 1.0 percent, with machinery exports declining particularly sharply. Exports of Swiss watches also decreased by 1.3 percent, although this was only the second decline in the last ten quarters. Imports into Switzerland increased by 0.3 percent to 55.57 billion francs, with imports of cars increasing by 3.1 percent. Imports of energy sources, however, decreased by 8.6 percent, marking the fourth consecutive quarterly decline. The trade balance closed with a high surplus of 10.5 billion francs, the second highest since the end of 2021.
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