LONDON (dpa-AFX) - Switzerland's foreign trade surplus increased in the third quarter as exports grew faster than imports, data from the Federal Customs Administration showed on Tuesday.
The trade surplus dropped to CHF 14.0 billion in the third quarter from CHF 13.2 billion in the second quarter. In the same period last year, the surplus was CHF 13.9 billion.
In real terms, exports rebounded 3.3 percent over the quarter versus a 0.8 percent decline in the June quarter. Meanwhile, imports fell 1.4 percent, reversing a 0.3 percent rise in the second quarter.
Exports of chemical and pharmaceutical products advanced 3.0 percent, and the growth in vehicle exports was 19.4 percent. The country exported 10.8 percent more costume and fine jewelry compared to the previous quarter.
During September, the trade surplus was CHF 1.4 billion, down notably from CHF 5.4 billion in August. Exports showed a monthly decline of 0.1 percent, while imports grew strongly by 7.0 percent.
Separate official data from the Federation of the Swiss Watch Industry showed that watch exports surged 11.7 percent annually in September, driven largely by increased demand for steel and bimetallic watches.
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