Higher exports result in record trade surplus

Switzerland has produced a record trade surplus of SFr9.7 billion ($9.55 billion) in the first half of the year.

This content was published on July 22, 2008 minutes

Exports increased 7.5 per cent to SFr105 billion, while imports rose 4.7 per cent to SFr95 billion between January and June 2008, according to figures released by the Federal Customs Office.

The surplus is a 44.8 per cent gain on the results of the first half of 2007.

The price of exported goods has increased by 9.2 per cent so far this year, with eight of out ten sectors of industry experiencing growth.

Textiles and clothing exports fell by 2.3 per cent and 2.9 per cent respectively. Foodstuffs, drinks and tobacco had the biggest growth at 17.6 per cent, ahead of the watch industry exports which grew by 14.9 per cent. Precision instruments, chemicals and electronics all rose by around seven per cent.

Exports continued rising when compared with the same period of 2007 while imports shrunk by more than half when compared to last year.

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