Foreign trade Exports fall sharply at the start of the year
Swiss foreign trade slipped into negative territory in both trade directions at the start of the year. This was mainly due to the chemical-pharmaceutical sector. Exports of machinery and electronics and of watches, on the other hand, increased compared to December 2024.
20.02.2025, 08:05
SDA
In total, exports amounted to CHF 22.7 billion in January 2025, as reported by the Federal Office for Customs and Border Security (FOCBS) on Thursday. Seasonally adjusted, exports fell by 6.9% compared to the previous month; in real terms - i.e. adjusted for price changes - this resulted in a decline of 3.9%. Exports had still risen sharply in December.
The chemical-pharmaceutical sector was the main factor behind the negative overall picture with a decline of 12.5%, according to the customs administration. The sector had set an export record in 2024 as a whole. The BAZG speaks of a "distorted" overall picture.
Overall, seven of the eleven product groups reported higher exports. Jewelry and jewelry goods (+44%), watches (+2.7%) and machinery and electronics (+1.8%) were on the plus side. Watch exports rose to their highest level since August 2024.
The decline in exports was almost entirely limited to North America (-18%), the report continued. This was mainly due to the USA and the pharmaceutical division. Exports to Europe (-0.6 percent) and Asia (-0.3 percent) were only just below the previous month's level.
Imports in the month under review amounted to CHF 18.7 billion, which corresponds to a nominal decline of 6.8% and a real decline of 1.9%.
The more significant decline in exports compared to imports caused the surplus in the trade balance to fall to CHF 4.3 billion (VM 4.4 billion).
