Swiss Trade Surplus Shrinks In August

(RTTNews) - Switzerland's foreign trade surplus decreased in August as exports fell amid an increase in imports, data from the Federal Customs Administration showed on Thursday.

The trade surplus dropped to CHF 3.9 billion in August from CHF 4.2 billion in July.

In nominal terms, exports dropped 1.0 percent monthly in August, while imports rose by 0.4 percent.

In real terms, both exports and imports rebounded by 2.4 percent and 0.6 percent, respectively.

Shipments of watches and jewelry items plunged 7.5 percent over the month, and those of clocks declined by 8.6 percent.

According to the Federation of the Swiss Watch Industry, watch exports fell sharply by 16.5 percent year-on-year in August. Watches made from precious metals logged the worst exports, which slumped by 17.3 percent.