ZURICH: Switzerland’s trade surplus declined in February as exports decreased amid an increase in imports, the Federal Customs Administration said Tuesday.
The trade surplus declined to CHF 3.3 billion in February from CHF 4.8 billion in January.
Exports decreased 2.2 percent month-on-month, but smaller than the 3.6 percent fall in January. Meanwhile, imports climbed 2.9 percent, reversing a 3.9 percent drop in the prior month.
Elsewhere, the Federation of the Swiss Watch Industry FH reported another decline in watch exports in February. Watch exports decreased 10 percent in February from prior year to CHF 1.5 billion.
Precious metal watches were a major contributory factor to this trend in February.
Among major markets, the United States reported one of the most severe falls, although after two months of rising figures. China posted a new monthly advance for the sixth time in the past seven months.
The deterioration of the Japanese market continued in February. Italy, Germany and France all reported lower figures.
