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Swiss export decreased in the last month of 2012 to its lowest level in 16 months as the weaker performance of the Eurozone's economy dragged down the demand for the Swiss watches and machinery and electrical products, the Federal Statistical Office reported on Tuesday. Exports fell 1.5% in December, while imports of the economy increased by 5.5%.
"Switzerland's foreign trade managed to withstand the difficult global economic environment in 2012 and both exports and imports increased slightly. However, foreign trade did not gain momentum until the second half of the year. The export surplus was based on only three categories of goods and was achieved outside of Europe," according to the Federal Statistical Office.