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Switzerland's December exports increase year-over-year

Staff writer ▼ | January 27, 2016
Swiss exports increased in December as an additional working day during the month helped make up for weakness in the country's machinery, metal and watch industries.
Swiss exports
Trade   An additional working day during the month helped
Exports in the month rose 2.9% from a year earlier, in real terms adjusted for inflation, to 16.14 billion Swiss francs ($15.93 billion), the customs office said. In nominal terms, exports rose 1.9%.

As a result, Switzerland's trade surplus narrowed to 2.54 billion francs from 3.16 billion francs in November.

The Customs Office noted that there was one extra working day in December 2015 compared with December 2014. When the figures were adjusted to reflect this, exports fell by 2.1% and imports declined by 9.1% in nominal terms.

The machinery and electronics, and metals industries suffered during December, with nominal exports down 7.8% and 5.2% respectively.

Both sectors have been struggling with the elevated level of the Swiss franc which makes Swiss exports to the neighboring eurozone more expensive.

During December Swiss watch exports also continued to suffer, falling 3.8% in nominal terms to 1.74 billion francs. The figure fell by 5.6% in real terms.