Economy Swiss exports rise slightly in June thanks to the pharmaceutical industry

The Swiss export industry sold slightly more goods abroad in June. There was also an increase in the second quarter as a whole.

In total, exports amounted to 23.17 billion Swiss francs in June, as reported by the Federal Office for Customs and Border Security (FOCBS) on Thursday. This represents a seasonally adjusted increase in exports of 1.2 percent compared to the previous month. In real terms, however - i.e. adjusted for price changes - there was a small fall of 0.3 percent.

In the second quarter as a whole, exports increased by 6.6% to 69.15 billion, in real terms by 3.5%. After a subdued first quarter, foreign trade picked up noticeably in the second quarter, writes the FOCA. Exports rose to a new high.

Pharmaceuticals as a driver

In terms of product groups, chemical and pharmaceutical products were primarily responsible for this (+11.8%), accounting for a good 55% of total exports. Meanwhile, the machinery and electronics (-0.3%) and metals (+0.9%) sectors stagnated. According to the BAZG, the two sectors mentioned have each gradually lost around half a billion francs in foreign sales since their highs in the second quarter of 2022.

From a regional perspective, all major sales regions recorded an increase. Deliveries to North America expanded by a fifth, which was due to pharmaceutical exports. Exports to Europe increased by 4.2 percent and those to Asia by 3.3 percent.

Trade balance at record high

Meanwhile, imports amounted to 18.27 billion Swiss francs in June, which corresponds to a nominal decrease of 2.2 percent and an increase of 1.0 percent in real terms. In the second quarter as a whole, imports rose by 2.2% to 56.71 billion (real: -0.8%).

The surplus in the trade balance amounted to 4.90 billion in June and 12.45 billion in the quarter.