Swiss Trade Surplus Falls Unexpectedly In January

Switzerland's trade surplus declined unexpectedly in January due to a fall in exports, the Federal Customs Administration said Tuesday.

The surplus fell to CHF 1.553 billion in January from CHF 2 billion in December. Economists were expecting the surplus to rise to CHF 2.5 billion.

Exports logged a monthly fall of 3.4 percent in January, partially offsetting December's 6.4 percent expansion. At the same time, month-on-month growth in imports slowed to 3.6 percent from 8.4 percent.
Elsewhere, the Federation of Swiss Watch Industry FH showed that watch exports continued to grow steadily in January. It grew 15.5 percent from a year ago to CHF 1.3 billion. Exports to major markets namely, Hong Kong, China and the United States picked up, while Singapore posted a notable decline.