First Quarter 2022: Swiss Foreign Trade rushing from record to record

 

 

Translated by Virgnia F. Bodmer-Altura, based upon the press release of the Swiss Customs Authority

The Swiss foreign trade grew also in the first quarter of 2022 and reached a new peak. Imports were well travelling (+ 6.7 %), on the other hand exports were slightly developing less elan, but still a plus of 1.2 %. In both direction the price level was reaching to the very high direction. Because of the differing development the trade surplus was decreasing marked (CHF -2.6 billion).

  • Machinery, electronics and metals confirmed the export growth.
  • Energy imports increased based upon prices in the first quarter (+ 46 %)
  • Exports were increasing to North America and Asia
  • Export and import trends tend upwards.

Total Swiss total exports in the first quarter 2022 reached CH 65425 million and total imports CHF 56694 million, the resulting difference  was CHF 8731 million. Exports nominally increased by 1.2 %, imports by 6.7 %. In real terms exports were growing 2.4 % and imports 2.7 %.

Three quarters of the main groups were increasing

Apart from Bijouterie and Jeweller goods(-15.1 %) Textiles, Clothing and Footwere (-3.7 %) and Precision Instruments (-0.5 %) all other goods reached an import increase. The most marked increase stemmed from the Energy sector (+46 %) not regarding volume, but price increases (real +0.8 %). Also Chemicals and Pharmazeuticals increased by 11.8 % or plus CHF 1.7 billion. The import of metals were higher (CHF +187 million or + 4.2 %).

The most important import markets were the Regions of Europe (+10.9 %) and North America (+ 9.4 %), the imports from Germany (CHF + 1.7 billion), Slovenia (CHF + 520 Million), Austria and Ireland increased also in double digits. As well as imports from USA (+12.1 % or CHF + 376 million). The imports from Asia were stagnant (+0.4 %) and China delivered about the level of the former quarter (+0.2 %). By contrast the imports from Singapore increased by 14.7 % and were doubling in value since the first quarter of 2019.

The export situation of Textiles, Clothing and Footwear reached in the January 2022 a total of CHF 394 million, in February CHF 491 million and in March 396, in the first quarter of 2022 the exports were less CHF 5 million, nominally -1.2 %, in real terms -1.3 %.

The import situation of Textiles, Clothing and Footwear was such: January 2022 CHF 993, February 2022 CHF 1012 million, March 2022 1002 milllion.

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