ZURICH: Switzerland’s trade surplus declined in October, figures from the Federal Customs Administration showed Tuesday.
The trade surplus fell to CHF 2.4 billion from CHF 2.8 billion in September. Exports decreased by real 1.8 percent on month in October, following a 1.3 percent drop in September. At the same time, imports slid 1.1 percent, smaller than the 3.1 percent decrease seen a month ago.
On a yearly basis, exports grew 2.3 percent, while imports fell 2.5 percent in October. Elsewhere, a report from the Federation of the Swiss Watch Industry FH showed that watch industry exports continued to profit from the recovery of some key markets and benefited from a very favorable base effect in October.
Watch exports grew 9.3 percent year-on-year to CHF 1.85 billion in October.
