Switzerland's economy abruptly went into
reverse in the third quarter, contracting by 0.2 percent, with exports
tumbling and even the country's vaunted financial sector seeing growth halt.
Switzerland posted a record trade surplus in 2015 of 36.6 billion Swiss francs ($36.1 billion, 33 billion euros), despite declines in exports, as imports were made cheaper by the strong franc, the
government said Tuesday.
Swiss imports and exports rose in November from the same month a year earlier, although the watch industry was among those continuing to see declines, according to figures released on Tuesday.
Swiss exports stagnated last month but a drop in imports left Switzerland with a record balance of payments surplus of 4.2 billion francs, the federal customs administration (FCA) reported on Thursday.
Swiss exports tumbled in August for a second consecutive month, slipping 4.5 percent to 14.2 billion francs from the same month a year earlier, government figures released on Tuesday showed.
The strength of the franc against the euro continues to impact Swiss trade, driving exports down 11 percent in May from the same month a year earlier, figures released by the government on Thursday show.
Swiss exports and imports dropped significantly in April because of lower prices linked to the strong franc, the Federal Customs Administration (FCA) said on Thursday.
Swiss exports dipped in the first quarter as the the impact of the stronger franc began to bite but the currency effect also weakened imports leaving Switzerland with a positive trade balance of 8.2 billion francs, figures released on Thursday show.
Russia has acquired high-tech camouflage netting from Switzerland for a record €85 million, having placed the order before Bern imposed sanctions against Moscow over the Ukraine conflict, reports said on Sunday.
Switzerland’s exports hit a record in 2014, expanding by 3.5 percent from the previous year to reach 208 billion francs ($225 billion), according to government figures released on Tuesday.
Swiss watch exports barely budged in March compared to the same month a year earlier but remained at “very high” levels, according to figures released on Tuesday.
Switzerland's watch exports dipped 2.5 percent to 1.6 billion francs ($1.69 billion) in February from the same month a year earlier, the Federation of the Swiss Watch Industry said on Thursday.
Swiss watchmakers posted record exports last year of 21.4 billion francs ($23.5 billion), which was nearly 11 percent more than a year earlier, the Federation of the Swiss Watch Industry said Tuesday.
Despite a soaring franc and a troubled global economy, Switzerland registered a record trade surplus of 24.4 billion francs last year, the federal customs administration (EZV) says.
