Switzerland's trade surplus declined in April

According to the report from Federal Statistical Office, after three months of positive signs, exports in April 2019 saw a seasonally adjusted decline of 2.3 percent (real: - 0.6 percent), but remained at the 19 billion franc mark. Since the low in September 2018, there has been an overall upward trend, which has slowed somewhat towards the end. After two declining monthly results in April, imports posted a plus of 0.8 percent in April (real: + 1.5 percent). The trade balance closed with a surplus of 1.9 billion francs.

The decline in exports hit a wide range of goods; However, the decline in sales of chemical pharmaceutical products (- 427 million Swiss francs, immunological products: - 642 million Swiss francs) was the most significant factor affecting total exports. At 4.8 percent, the watch division suffered a damper in April. Deliveries of machinery and electronics fell just short of the previous month's level and thus tend to decline downwards over the year. A contribution to growth was made by the other product categories, namely exports of vehicles (+ 12.2 percent) and metals (+ 2.0 percent).

Most of the import plus was based on the bijouterie and jewelery sector (+ 508 million Swiss francs, under other product groups), which also set a new monthly record of 1.6 billion Swiss francs. Metals (+ 1.4 percent) and machinery and electronics (+ 0.6 percent) also made a positive contribution. Imports of the largest division, Chemicals and Pharmaceuticals, on the other hand, showed a decline of 3.0% (- 128 million Swiss francs, immunological products: - 466 million Swiss francs), thus confirming the decline recorded in the previous month. Meanwhile, imports of vehicles (- 102 million francs, airplanes) continued their downward trend registered since the beginning of 2018 in April.