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Swiss trade surplus rises notably in January on strong retreat in imports

Switzerland's trade surplus increased notably in January, data from the Federal Customs Administration showed on Tuesday. Swiss trade surplus rose to CHF 4.7 billion in January from CHF 2.7 billion in the previous month. The rise was attributable to sharp declines in imports during the month.

Details of the report showed imports during January slid 5.3 percent compared to a 0.6 percent fall in the prior month. On a yearly basis, imports declined 6.8 percent, reversing December's 1.8 percent increase.

At the same time, month-on-month, exports also fell 4 percent, in contrast to a 9.7 percent rise in December. But the extent of declines was less compared to imports. On a yearly basis, exports growth slowed to 2.3 percent from 6.2 percent.

The Swiss franc was little changed against its major rivals after Switzerland's trade data. As of 0700 GMT, the Swiss franc was trading at 1.0641 against the euro, 1.2520 against the pound, 1.0049 against the US dollar and 112.92 against the yen.

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