Suisse Balance Commerciale

The trade surplus in Switzerland narrowed to CHF 4.0 billion in November 2024, down from a record CHF 6.0 billion in October. Month-on-month, exports dropped 11% to CHF 21.7 billion, driven by lower sales of chemical and pharmaceutical products (-15.2%), food and beverages (-11.5%), and machinery and electronic products (-8.3%). Among trading partners, demand fell significantly in Slovenia (-49.2%), Egypt (-23.3%), South Africa (-19.3%), and the UK (-18.2%). Meanwhile, imports declined by a softer 3.6% to CHF 17.8 billion, reflecting reduced purchases of chemical and pharmaceutical products (-10.4%), jewelry (-9%), and watches (-4.2%). By trading partner, imports decreased notably from Hong Kong (-36.6%), Slovenia (-22.7%), and Russia (-15.1%). For January to November, the trade surplus widened to CHF 43.3 billion, up from CHF 33.8 billion in the same period last year.