Swiss Foreign Trade in October 2022 weaker

In October 2022 the Swiss Foreign Trade showed some weakness in both directions. The exports shrank – against September 2022 – by 1.1 % and imports by 1.4 %. Exports had decreases in various sectors, but imports were marked negatively by chemical-pharmaceutical Products, thetrade balance had a suplus of CHF 3 billion.

Medical Imports showed a minus by 565 million.

The foreign trade with Spain and Slovenia (Chemicals and Pharmaceuticals) was also harmed.

Foreign Trade with Russia

The imports from Russia show in October 2022 a total alue of CHF 99 million.

Thereof CHF 91 million on gold from Russian origin (1671 kilos) imported ia the UK. The imported gold are in line with the actual sanctions. The exports to Russia amounted to CHF 286 million, and thereof CHF 240 million are from the sector of chemicals and pharmazeuticals.

Total Development

After two succeeding months with a plus, the exports in October 2022 decreased by 1.1 % (in real terms – 1.8 %), however still with a positive trend. The total imports decrease by 1.4 % (in real terms – 0.8 %), but these figures are stagnating since the middle of the year. The commercial balance showed a surplus of CHF 3 billion, a record over the past six months.

Exports to China sank for the third month in a row

More than half of the good’s sector had a negative result in October 2022.

The exports of Machinery and Electronics sank by CHF 78 million or -2.8 %), whereas they increased during the past two months. Also the dispatch of clocks (-4.3 %) and metals (-2.7 %) were decreasing.

The situation by Textiles, Clothing and Footwear

The seasonally adjusted exports of textiles, clothing and Footwear amounted in October 2022 to CHF 410 million, a plus of CHF 6 million or 1.5 % more than in September. In real terms the plus was 1.3 %.

The seasonally adjusted imports of the three categories amounted to a  value of CH 1058  in October 2022 or CHF 15 million less than in September 2022, nominally resulted a minus of 1.4 %, in real terms a plus of 0.5 %.  Clothing had in October a value of CHF 694 million (a minus of CHF 9 million, and nominally of 1.4 %, and in real terms -0.7 %.

The footwear value of imports amounted to CHF 187 million, a nominal minus of CHF 7 million, and nominally -3.4 %, and in real terms of plus 0.7 %.

Translated by Virginia F. Bodmer-Altura, TextileFuture Publisher, based upon the latest results of the official Swiss Customs statistics.