Suíça Balança Comercial

Switzerland's trade surplus widened slightly to CHF 4.3 billion in July 2025 from CHF 4.2 billion in the previous month, marking the largest surplus since April. Exports fell by 2.7% month-on-month to CHF 22.2 billion, driven by lower shipments of costume and fine jewelry (-9.7%) as well as chemical and pharmaceutical products (-6.8%). The sharpest export declines were recorded to Austria (-36.9%), Ireland (-21.1%), and South Africa (-20.5%). Exports to the US rose just 1.1% in July, a sharp slowdown from June’s revised 25.2% surge. The deceleration reflects the impact of a 39% US tariff on Swiss goods—one of the highest globally—imposed after trade talks failed to produce a favorable outcome. Meanwhile, imports declined at a faster pace of 4.2% to CHF 17.9 billion, primarily due to reduced imports of energy sources (-12.2%) and chemical and pharmaceutical products (-11.7%). The steepest declines in import volumes were from Ireland (-62.7%), Australia (-48.1%), and Spain (-28.6%).