Economy Swiss exports climb to record level in October
The Swiss export industry had a very good October. Exports rose to a new record level, mainly thanks to the chemical and pharmaceutical sectors.
19.11.2024, 08:07
SDA
In total, exports amounted to CHF 24.39 billion in October, as reported by the Federal Office for Customs and Border Security (FOCBS) on Tuesday. This represents a seasonally adjusted increase in exports of 10.2 percent compared to the previous month. In real terms - i.e. adjusted for price changes - this resulted in an increase of 11.2 percent. In the previous three months, exports had still tended towards weakness.
According to the BAZG, the turnaround was broad-based. However, chemical and pharmaceutical exports in particular stood out positively, increasing by 15.2%. These now account for almost 60 percent of total Swiss exports.
Machinery industry also on the rise
The mechanical and electrical engineering industry (+3.1%) and the metal industry (+4.8%), both of which had recently had to contend with declines in some areas, also recorded export growth.
Geographically, the trend was mixed. While exports to Europe rose by 16.1% and those to North America by 7.4%, exports to Asia stagnated (+0.3%).
Imports amounted to CHF 18.42 billion in October, which corresponds to a nominal increase of 1.8% (+0.7% in real terms).
The surplus in the trade balance thus amounted to a record CHF 5.97 billion after CHF 4.03 billion in the previous month.
