[vc_row njt-role=”people-in-the-roles” njt-role-user-roles=”administrator,armember”][vc_column][vc_column_text]
As a result of the measures implemented worldwide to fight against the spread of the new coronavirus, Switzerland’s foreign trade collapsed in April. In deseasonalized terms, exports fell by 11.7%, while imports fell by 21.9%. This was the biggest monthly decline in decades.
The trade balance nevertheless ended the month under review with a record monthly surplus of 4.3 billion Swiss francs, the Federal Customs Administration (FCA) wrote on Tuesday. Expressed in real terms, taking inflation into account, the decline in exports amounted to 10% to 16.7 billion francs, the largest drop ever recorded.
Imports meanwhile fell in real terms by 17.8% to 12.4 billion Swiss francs. In terms of foreign consignments, all sectors suffered a clear downturn, with jewellery (-77%) and watchmaking (-72.6%) posting the steepest falls. The cumulative fall in consignments from these two sectors amounted to 1.6 billion Swiss francs.
Halt in watch exports
The watchmaking sector was hit hard. Watch exports suffered a vertiginous fall in April compared to the previous month, during which a downturn had already been recorded, according to data from the Watch Federation (WF) and the Federal Customs Administration (FCA) published on Tuesday.
In April, watch exports totalled 328.8 million Swiss francs, down by 81.3% compared to March. All material groups suffered declines, between 75% and 90%, both in terms of value and number of pieces, as the company points out in its monthly statement.
Less impact on imports
Among the main markets, the United States (-86.4%), Japan (-85.9%), Hong Kong (-83.2%) and Germany (-82.1%) recorded the largest declines. While South Korea (-68.6%) and especially China (-16.1%) experienced a smaller fall. “China thus absorbed a third of Swiss watch exports last month”, the WF points out.
Imports suffered less. It fell by 45.7% in nominal value (real: -34.6%) to CHF 112 million, according to FCA figures. Watch supplies fell by 44.5% in real terms to 49 million. (ats/Le Matin)
Read also > SWITZERLAND : ORGANIZERS OF THE FORMER BASELWORLD DENIES THE FUTURE WATCH TRADE SHOW WILL BE LOCATED IN LAUSANNE
Featured photo : © WF / FH[/vc_column_text][/vc_column][/vc_row][vc_row njt-role=”not-logged-in”][vc_column][vc_column_text]
As a result of the measures implemented worldwide to fight against the spread of the new coronavirus, Switzerland’s foreign trade collapsed in April. In deseasonalized terms, exports fell by 11.7%, while imports fell by 21.9%. This was the biggest monthly decline in decades.
The trade balance nevertheless ended the month under review with a record monthly surplus of 4.3 billion Swiss francs, the Federal Customs Administration (FCA) wrote on Tuesday. Expressed in real terms, taking inflation into account, the decline in exports amounted to 10% to 16.7 billion francs, the largest drop ever recorded.[/vc_column_text][vc_cta h2=”This article is for subscribers only.” h2_font_container=”font_size:16″ h2_use_theme_fonts=”yes” h4=”Subscribe now!” h4_font_container=”font_size:32|line_height:bas” h4_use_theme_fonts=”yes” txt_align=”center” color=”black” add_button=”right” btn_title=”I SUBSCRIBE!” btn_color=”danger” btn_size=”lg” btn_align=”center” use_custom_fonts_h2=”true” use_custom_fonts_h4=”true” btn_button_block=”true” btn_custom_onclick=”true” btn_link=”url:https%3A%2F%2Ftest2023.luxus-plus.com%2Fen%2Fabonnements-et-newsletter-2%2F|||”]Unlimited access to all the articles and live a new reading experience, preview contents, exclusive newsletters…
Already have an account? Log in.
[/vc_cta][vc_column_text]Featured photo : © WF / FH[/vc_column_text][/vc_column][/vc_row][vc_row njt-role=”people-in-the-roles” njt-role-user-roles=”customer”][vc_column][vc_column_text]
As a result of the measures implemented worldwide to fight against the spread of the new coronavirus, Switzerland’s foreign trade collapsed in April. In deseasonalized terms, exports fell by 11.7%, while imports fell by 21.9%. This was the biggest monthly decline in decades.
The trade balance nevertheless ended the month under review with a record monthly surplus of 4.3 billion Swiss francs, the Federal Customs Administration (FCA) wrote on Tuesday. Expressed in real terms, taking inflation into account, the decline in exports amounted to 10% to 16.7 billion francs, the largest drop ever recorded.[/vc_column_text][vc_cta h2=”This article is for subscribers only.” h2_font_container=”font_size:16″ h2_use_theme_fonts=”yes” h4=”Subscribe now!” h4_font_container=”font_size:32|line_height:bas” h4_use_theme_fonts=”yes” txt_align=”center” color=”black” add_button=”right” btn_title=”I SUBSCRIBE!” btn_color=”danger” btn_size=”lg” btn_align=”center” use_custom_fonts_h2=”true” use_custom_fonts_h4=”true” btn_button_block=”true” btn_custom_onclick=”true” btn_link=”url:https%3A%2F%2Ftest2023.luxus-plus.com%2Fen%2Fabonnements-et-newsletter-2%2F|||”]Unlimited access to all the articles and live a new reading experience, preview contents, exclusive newsletters…
Already have an account? Log in.
[/vc_cta][vc_column_text]Featured photo : © WF / FH[/vc_column_text][/vc_column][/vc_row]
