by Swiss trade rose sharply in January 2021. However, one industry dominated and masked falls in other sectors. © Alexandr Blinov | Dreamstime.comAfter falling in December 2020, seasonally adjusted Swiss exports rose 5.4% to CHF 18.9 billion in January 2021, according to recently published figures. In addition, imports were up 3.3% to CHF 15.3 billion. 90% of the rise in exports was due to a rise in pharmaceutical exports, which rose by 9.7%. Exports were also up in the machine and electronics (+3.1%) and metals (3.3%) sectors with declines in the watch (-0.3%), jewellery (-6.8%), textiles (-5.3%) and vehicles (-6.4%) sectors. The pharmaceutical sector accounted for the lion’s share (75%) of the rise imports, which were up 9.1%. Imports were also up in the machine and electronics
Topics:
Investec considers the following as important: Business & Economy, Editor's Choice, Swiss trade 2020
This could be interesting, too:
Investec writes Migration between Swiss cantons – gainers and losers
Investec writes Commission wants to postpone pension hike funding question
Investec writes Swiss house prices fall in the first quarter of 2024
Investec writes Inflation returns to Switzerland in April
Swiss trade rose sharply in January 2021. However, one industry dominated and masked falls in other sectors.
After falling in December 2020, seasonally adjusted Swiss exports rose 5.4% to CHF 18.9 billion in January 2021, according to recently published figures. In addition, imports were up 3.3% to CHF 15.3 billion.
90% of the rise in exports was due to a rise in pharmaceutical exports, which rose by 9.7%. Exports were also up in the machine and electronics (+3.1%) and metals (3.3%) sectors with declines in the watch (-0.3%), jewellery (-6.8%), textiles (-5.3%) and vehicles (-6.4%) sectors.
The pharmaceutical sector accounted for the lion’s share (75%) of the rise imports, which were up 9.1%. Imports were also up in the machine and electronics (+2.5%) and metals (1.7%) sectors. Imports in the vehicle (-4.9%), textile (-5.9%) and watch (-12%) sectors all saw declines.
In January 2021, 51% of exports were to the EU, 24% to Asia, 19% to North America and 6% to the rest of the world. On the import side, 66% came from the EU, 21% from Asia, 6% from North America and 7% from the rest of the world.
The net trade balance for January 2021 was CHF 3.6 billion, up 15.5% from 3,1 billion in December 2020.
More on this:
Government press release (in French) – Take a 5 minute French test now
For more stories like this on Switzerland follow us on Facebook and Twitter.