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Switzerland’s exports fall 4.9% in July

Switzerland’s exports fall 4.9% in July

ZURICH: Switzerland’s exports fell in July as the strength of the Swiss franc curbed demand in the European Union and Asia for its chemicals, pharmaceuticals, machinery and watches.

Exports in July slipped 4.9% from a year earlier, in real terms, to 17.93 billion Swiss francs ($18.6 billion), the customs office said Thursday. In nominal terms, exports dropped 7.4%, it said.

Imports reached CHF14.19 billion, up 0.2% in real terms but 8.3% lower in nominal terms. The July trade surplus widened to CHF3.74 billion from CHF3.51 billion in June.

Watch exports in July fell a nominal 9.3%, according to the customs office. Watch exports were worth CHF1.9 billion, for a decline of 10% in real terms.