Swiss exports fell in May

Swiss exports fell in May
Swiss exports fell in May

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A majority of six out of eleven Swiss export sectors recorded an increase, despite an overall decline in statistics. The decline is attributable to the machinery and electronics sector (-1.4%) as well as chemical and pharmaceutical products, whose decline reached 3.1% (-6.7% in real terms).

New watch drop

At the other end of the table, metals saw their exports increase by 2.6% (+0.7% in real terms) while deliveries of jewelry increased by 2.0% and even 8. 0% in real terms.

Unadjusted Swiss watch exports, however, fell again in May, after an upward month in April. They decreased by 2.2% compared to the same period last year, for a value of 2.3 billion francs, show the latest statistics from the Federation of the Watch Industry (FH) also published on Thursday. Over the first five months of the year, the decline is 2.5% year-on-year, for a result reaching more than 10 billion francs, according to FH estimates.

Contraction in Chinese demand

Demand for Swiss products declined in May in the three main markets: Europe (-0.8%), North America (-0.8%) and Asia (-2.3%). %). Deliveries to the important economic partner Germany fell by 9.3% or 332 million francs. Another important country, demand in China contracted, to the tune of 281 million francs. In Asia, Japan stands out with a jump in exports of 104 million.

Imports fell by 1.6% in nominal terms and by 4.3% in real terms to 18.68 billion francs. Motor vehicles show a decline of 153 million. Chemical and pharmaceutical products (-216 million) as well as the machinery and electronics sector (-120 million) are the main responsible for this decline. Arrivals from Asia declined by 6.2%, compared to contractions of 1.8% for North America and 0.9% for Europe. The trade balance showed a surplus of 4.13 billion francs in May.

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