BRUSSELS (dpa-AFX) - Switzerland's foreign trade surplus increased in April from a month earlier as imports fell faster than exports, data from the Federal Customs Administration showed on Tuesday.
The trade surplus rose to CHF 6.3 billion in April from CHF 5.4 billion in March.
In real terms, exports dropped 3.3 percent over the month, reversing a 5.4 percent increase in March. Imports slumped 10.0 percent after rising 5.0 percent in the prior month.
The overall decline in exports was driven by 10.3 percent fewer shipments of chemical and pharmaceutical products, and the imports of the same were 34.4 percent lower in April compared to last year.
In nominal terms, both exports and imports plunged by 9.2 percent and 15.6 percent, respectively.
According to the Federation of the Swiss Watch Industry, watch exports logged record growth of 18.2 percent year-on-year in April, largely driven by an exceptional increase in exports to the United States, which were up by 149.2 percent.
The surge in exports to the US was mainly the result of early shipments, motivated by the increase in US customs duties.
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