How Swiss companies billed good exports in EUR instead of CHF in 2014
In 2014 three of eleven sectors billed their goods majorly in EUR, followed in CHF and USD
Very distinctively the paper and graphic industry and the plastic industry preferred to bill their export products. These sectors billed to 67 % respectively 64 % their exports in EUR.
According to Swiss Customs Authorities these results are not surprising, because these sectors export to four fifth into the EU. Also the metal industry billed exports in EUR to 57 %, whereas 33 % of the billing was in CHF.
Heavy weights such as the chemical/pharmaceutical industry and the machinery industry differed in their billings. The chemical/pharmaceutical industry billed their exports in EUR, 25 % in USD und 19 % in CHF, the dominant factor of the machinery exports were 46 % in CHF, followed by 42 % in EUR and 10 % in USD.
The watch industry is dominated by CHF billings (69 %) and 17 % in other currencies such as YPY and Hong Kong Dollar.
Since Januar 2012 it is compulsory to deposit also the currency of the billings in the import/export applications. This rule is based upon the statistic agreement in the framework of the bilateral understanding II in which Switzerland has obliged itself to harmonise its statistics with those of the EU. With these data it becomes possible to convey an analysis of the significance of a currency in external trade. In addition research is given how intensively sectors react on currency fluctuations. Sectors that bill in EUR have to amend their prices rarely which leads to the elimination of costs. However they take the risk of falling currency exchanges.
This billing attitude was before the fixed exchange rate of the CHF/EUR was lifted, thus does not reflect the actual situation after January 15, 2015.