Swiss imports and exports experienced new heights in the first quarter, carried by the chemistry and pharmaceutical sector. Shipments to the United States have jumped, reaching figures never recorded in March.
ATS
Between January and the end of March, the disappearing exports increased by 3.6% in nominal terms (not corrected for inflation) over a quarter, passing the 74 billion francs for the first time, the Federal Office of Customs and Border Security (OFDF) said in a press release on Thursday.
“The upward trend started in the second quarter of 2024 was confirmed, leading to a new historic peak at the exit,” notes the OFDF.
Over the same period, imports increased by 5.9% to rise at the record level of 60.5 billion. At the entrance also, the positive trend observed since the second quarter of 2024 continued, “at a less sustained rate, however”.
The surplus of the trade balance was 13.7 billion, down 5.5% compared to the previous quarter.
In March, exports only jumped 12.6% to settle in a new monthly summit of 27.6 billion francs, 3 billion higher than the previous one. The boom in exports of chemicals and pharmaceuticals to the United States explains this result. In addition to 10.4%, imports also reached a record level.
Perform jewelry
In the first quarter, with the exception of vehicles (-3.6%), all exported goods groups recorded an increase, at different rhythms, however. With a boom of 2.3 billion (+5.5%), chemicals and pharmaceuticals made the highest contribution – based solely on the price effect – to export growth.
Jewelry and jewelry have notably reached an never reached level (+3.0%), at 3.4 billion. The precision instruments (+1.9%) as well as the machine and electronic sector (+0.9%) also pulled out of the game, 4.4 and 7.9 billion respectively.
All the main markets have finished in the green, details the report. Exports to North America experienced the strongest growth, 16.6%, and 17.4% to the United States.
The rise in Asia (+1.0%) rested on South Korea (+16.2%) and the United Arab Emirates (+10.0%). Shipments to China, on the other hand, flexed 1.1%, perpetuating their downward trend from the previous three quarters. Europe has increased slightly (+0.4%).
For imports, the 12 groups of goods increased compared to the previous quarter, thus contributing to an never recorded result. Imports of chemicals and pharmaceuticals have “revealed the most dynamic by far”, up 2.5 billion (+12.6%).
A cumulative increase of 679 million francs was the result of energy products (price effect), metals, aeronautical vehicles, precision instruments as well as the foodstuffs, drinks and tobacco sector.
