Home » Business » Collapse of Swiss foreign trade in April

Collapse of Swiss foreign trade in April

In seasonally adjusted terms, exports tumbled 11.7%, while imports fell 21.9%. It was the largest monthly deterioration in decades.

As a result of measures taken worldwide to combat the spread of the new coronavirus, foreign trade collapsed in April. In seasonally adjusted terms, exports tumbled 11.7%, while imports fell 21.9%. It was the largest monthly deterioration in decades.

The trade balance nevertheless ended the month under review on a record monthly surplus of 4.3 billion francs, the Federal Customs Administration (AFD) wrote on Tuesday. Expressed in real terms, or factoring in inflation, the drop in exports was 10% to 16.7 billion, the largest decline ever recorded.

Imports fell in real terms by 17.8% to 12.4 billion francs. In terms of international shipments, all sectors suffered a sharp decline, with jewelry and jewelry (-77%) as well as watchmaking (-72.6%) showing the sharpest falls. The cumulative drop in shipments from these two branches amounted to 1.6 billion francs.

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.