Development of foreign trade 2012
Despite a weak global economy, Swiss foreign trade in 2012 showed a slight growth. Imports as well as exports have grown.
Foreign trade increases
2012 showed a slight increase in both Swiss exports and imports. Import rose 1.2% while exports increased a slightly more at 1.5%. The trade balance, the difference in value between import and export, reached a record surplus of CHF 24.4 billion. This means that Switzerland has sold more goods abroad than it has imported. A surplus such as this is a good indicator of a healthy economy. In looking at the export statistics it should be noted that the watch industry has shown a third more sales than just five years earlier. Also notable in export this year is a increase of 10% in the exports to North and Latin America.
Negative trends in foreign trade were seen in the machine and electronics sector. This industry showed a reduction of exports to 2004 levels. Fewer goods were sold to Italy and China. Each country showed a decrease in purchases of around CHF 1 billion.
Big differences
Foreign trade did not develop uniformly in 2012. While the watch and pharmaceutical industries showed marked gains, the machine and electronics sector saw drastic reductions in sales. The watch industry exported 11% more than it did the previous year. In terms of percentage gains this represents 1st place among the industries that saw gains. The largest export sector, the chemical and pharma industry also saw a marked gain in exports with sales of CHF 79 billion.
At the other end of the rankings we find the paper and graphic industry which saw another significant shrinkage in sales in 2012. Exports in this sector fell by 13%. The machine and electronics industry saw a similar reduction in sales also due to reduced demand in Europe. However, exports to North America and Oceania rose considerably even though this was not enough to prevent a overall drop. It must be kept in mind that depending on the sector there are large differences and that the health of the Swiss economy largely depends on the health of three major industries.
