Watch exports making Swiss trade tick

Watch exports making Swiss trade tick
Mohammad Fahmi Mohd Shah (File)

Switzerland's trade surplus reached 2.7 billion francs ($3.0 billion) in February, up from the 1.6
billion francs in January, with the watch industry leading export growth.

Watch exports were up almost a fifth, reaching 1.6 billion francs for the month, with demand from Hong Kong strongest — up 23.7 percent at 388.1 million francs.

Overall exports rose 1.3 percent to 16.7 billion francs compared to the same month in 2011 due to the extra working day in February this year. When the number of working days was corrected, exports were down compared to February 2011.

Imports were also up slightly, at 1.4 percent to 14 billion francs. Corrected to reflect the extra working day, they were down 6.3 percent against last February.