Brussels, Nov. 17, (dpa-AFX/GNA) - Switzerland’s exports declined for the second consecutive month in October, and at a faster pace, data from the Federal Customs Administration showed on Thursday.
Exports decreased by a real 1.8% monthly in October, following the 0.4% fall in September. Imports also logged negative growth of 0.8% for the month, in contrast to a 1.0% rise in September.
In nominal terms, both exports and imports dropped by 1.1% and 1.4%, respectively.
The fall in exports affected a wide range of products, while the import market was impacted by the chemicals and pharmaceuticals sector.
The trade surplus for October was 2.978 billion francs, versus 2.934 billion francs in September. According to the Federation of the Swiss Watch Industry, watch exports rose 6.7% year-on-year in October.
GNA