Switzerland’s trade surplus declined more than expected in August as the strength of the Swiss franc weighed on exports, data from the Federal Customs Administration revealed Tuesday.
The trade surplus fell to CHF 2.87 billion in August from CHF 3.58 billion in July. It was forecast to fall to CHF 2.75 billion.
Exports fell by real 2.4 percent on a monthly basis after decreasing 2.3 percent in July. Similarly, imports declined 4 percent versus a 1.8 percent drop a month ago.
Year-on-year, exports decreased by real 2.1 percent in August but slower than the 4.9 percent decline seen in July. Meanwhile, imports slid 7.4 percent, reversing July’s 1.7 percent increase.
During January to August, the trade balance showed a surplus of CHF 23.89 billion.
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