Zurich (awp) – Switzerland recorded a significantly lower current account surplus in the third quarter of 2024. From July to the end of September, Switzerland still took in 6 billion Swiss francs more than it took in. spent.
At the end of September 2024, Switzerland’s current account surplus was around 10 billion Swiss francs lower than the level posted during the corresponding quarter of 2023, the Swiss National Bank (SNB) said on Friday. All components contributed to the decline.
The decline in the merchandise trade balance essentially reflects the decline in transit trade, while that of conventional goods increased.
Both for trade in services and for primary and secondary income, the spending surplus increased compared to the same quarter of the previous year. The relatively high deficit in secondary income is due to claims payments made by domestic insurers abroad, according to the SNB.
The current account balance records all revenues and expenditures of a national economy. In addition to trade in goods, it also includes trade in services (tourism), labor and capital income as well as current transfers. A high surplus is considered a sign of the strength of a national economy.
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