BERN: Switzerland’s foreign trade surplus increased in November, as imports fell faster than exports, the State Secretariat for Economic Affairs said Tuesday. The trade surplus rose to CHF 3.6 billion in November from CHF 2.7 billion in October. Economists had expected the surplus to climb to CHF 3.56 billion.
In real terms, exports dropped 0.4% month-over-month in November and their by reaching at its lowest level since September 2015. Imports declined 4.2% over the month. On an annual basis, both exports and imports fell by 3.7% and 6.1%, respectively in November. Another report from the Federation of the Swiss Watch Industry FH showed that watch exports decreased 5.6% in November from last year.
