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Exports fell by 1.2 percent to 274.3 billion francs in the whole of 2023, the Federal Office for Customs and Border Protection (BAZG) announced on Tuesday. Imports fell even more sharply, falling 3.8 percent to 225.8 billion, so that the surplus in the trade balance rose to 48.5 billion, the second highest surplus ever measured.
BAZG added in its statement that falling prices in both directions lead to better real results. While exports increased by 2.5 percent in real terms, imports fell only 2.0 percent.
In 2023, seven out of eleven product groups experienced declines. According to BAZG, the decrease in exports of the metal group (-9.0%) had a particularly significant impact on the result. Exports of paper and graphic products, precision instruments, and food and beverages also showed significant declines. Meanwhile, watch exports also increased significantly; It broke a new record, reaching 26.7 billion francs with an increase of 7.6 percent.
There was a slight increase of 0.7 percent in the exports of chemical-pharmaceutical products, due to the falling prices on the one hand and the serious decrease in pharmaceutical exports on the other. Deliveries of raw materials and basic materials increased by half.
Looking at the regional distribution, exports fell in almost all major economic regions. Only Europe stagnated. 3.5 percent fewer goods were exported to North America, and exports to Asia fell 2.9 percent. There was a decrease in exports in trade with China for the first time in 11 years. (SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
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