Economy Swiss exports fall significantly in November
The Swiss export industry suffered a clear setback in November. Exports fell significantly, mainly due to the chemical and pharmaceutical sectors. This neutralized the previous month's increase.
19.12.2024, 08:03
SDA
In total, exports amounted to CHF 21.72 billion in November, as reported by the Federal Office for Customs and Border Security (FOCBS) on Thursday. Compared to the previous month, this is a decrease of 11 percent. In real terms - i.e. adjusted for price changes - this resulted in a drop of 10.8 percent. Exports had reached a record level in October.
The chemical-pharmaceutical sector alone accounted for 80 percent of the decline, explained the customs administration. The sector had set an export record in October. Exports of raw and basic materials in particular fell by one billion Swiss francs.
The Swiss export industry suffered a decline in all three major sales regions. This was in the double-digit range in Europe (-13.7%). Exports to Asia fell by 4.3% and those to North America by 1.5%.
Imports amounted to CHF 17.76 billion in November, which corresponds to a nominal decline of 3.6% (-2.8% in real terms).
The surplus in the trade balance fell to 3.96 billion francs after the record figure of 5.97 billion francs in the previous month.
