Swiss trade surplus rises in November

Source: RTT News
© Scanpix/Reuters
According to the Federal Customs Administration, Swiss trade surplus rose to CHF 2.95 billion in November, while the surplus was expected to decline to CHF2.23 billion. Exports from Switzerland grew 6% month-on-month as strong sales to the U.S. and Asia offset sluggish growth in Europe, the biggest trading partner. Sales to Asia increased by 8.7% and to the U.S. by 21.3%, while exports to the EU rose 1.1%. The Federation of Swiss Watch Industry said growth in watch exports cools in November, but stayed at a high level, with watch exports climbing 4.5% annually. Meanwhile, imports increased 0.2% compared to a 6.9% decline a month earlier.
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