Third Swiss Quarter 2020: External Trade takes again off

After a record high backlash in the second quarter 2020 the Swiss foreign trade presents marked recovery in the third quarter 2020. Exports increased seasonally adapted by 6.5 % and the imports by 11.5 %. Nevertheless the results were markedly below the highs of the second quarter 2019. The balance of trade concluded wth a surplus of CHF 8.2 billion.

Total Swiss exports in the third quarter amounted to CHF 53602 million, and total imports to CHF 45436 million, thus a surplus of 8165 million. In real terms exports  increased by 9.9 % and imports 9.0 %. The level of results is corrsponding with the final results three years ago.

In view to the sectors in the third quarter of 2020 watches and jewellery added CHF +1.9 and CH +1.3 billion in exports, but despite this recovery the turnovers are below pre-crona times. Also precision instruments, machinery and electronices added CHF 674 million and CHF 568 million, whereas pharmaceutical intermediaries and immunologic products sank by CHF 586 million, respectively CHF 559 million.

Swiss products were increasingly on demand in Asia (+16.9 % or CHF 1.7 billion), foremost demand originated from China, Hong Kong and the Arab Emirates, in total the exports increased to these contries by CHF 1.1 billion). China distinguished itself with a new record of CHF 3.9 billion. North America was the destination with an extention by 14.3 %, the deliveries to the USA increased by CHF 1.2 billion to over CHF 10 billion.

The exports to European countries increased by 7.4 % or CHF +1.8 billion, thanks to more demand from Italy, UK, France and the Netherlands. On the other hand, exports to Germany and Spain decreased slightly.

The import situation CHF + 4.7 billion included practically all sectors, the highest value – almost CHF 2 billion – were imported vehicles, thereof cars with a value of CHF 1.1 billion.

Seasonally adjusted exports of textiles, clothing and footwer amounted in the third quarter to CHF 1202 million or CHF 125 million more than in the second quarter 2020. In nominal terms + 11.6 % and in real terms + 15.2 %. Exports in September  amounted to CHF 402 million or CHF -4 million against August. Nominally resulted in September -1.1 % and in real terms -1.9 %.

Total Swiss imports for the three categories amounted to CHF 3121 million in September 2020 or CHF + 31 million or nominally +3.1 % and in real terms + 3.0 %. Clothing amounted to CHF 635 million, a plus of CHF 12 million or nominally + 1 %, and in real terms +2.7 %. Footwear amounted to CHF 177 million or CHF +1 million or nominally + 0.7 % and in real terms +0.8 %.