BERN: Switzerland’s trade surplus declined to a 3-month low in July, the Federal Customs Administration reported Tuesday.
The trade surplus fell to CHF 2.9 billion in July from CHF 3.5 billion in June. This was the lowest since April, when the surplus totaled CHF 2.4 billion. Exports rebounded 5.5 percent in July from June, when it fell 4 percent. Imports logged a bigger growth of 9.2 percent, following a 4 percent drop in June.
Another report from the Federation of the Swiss Watch Industry FH showed a double-digit decline in watch exports in July. Swiss watch exports decreased 14.2 percent in July from the prior year to CHF 1.6 billion.The value of watches priced between 200 and 3,000 francs fell by 9.9 percent against July 2015.
