Switzerland’s trade balance beats forecasts, hits record high of CHF4.4 bln in September

Switzerland’s trade balance for September month rose more-than-expected, official data showed on Thursday. Data released by Federal Statistical Office showed Swiss trade surplus increased to a record high of CHF4.4bn for September from a revised CHF3.0bn the previous month. Analysts had expected Swiss Trade Balance to rise to 3.270B last month.

September headline imports rose 3.7 percent in nominal terms, while in real terms there was a decline of 0.2 percent. Seasonally and working-day adjusted exports recorded a 4.1 percent increase in nominal terms and a 4.3 percent gain in real terms.

For the third quarter, surplus increased to CHF10.2bn from CHF9.5bn in Q2 with exports rising 2.6 percent for the quarter. Strong quarterly export gains were seen across most sectors with notable strength in chemicals sector. Shipments to the US were strong and modest advance was seen to the Eurozone, while exports to the UK declined.