Switzerland: exports fell in July

Exports continued their decline in July. However, in particular with the effect of the Chemistry-Pharma sector, according to the latest external trade figures before the entry into force of punitive customs duties on exported products to the United States.

The chemi-pharma sector, which weighs very heavy in Swiss foreign trade has a decline of 6.8% compared to June, according to customs. Similarly, The pharmacy is currently switzerland: exports fell july spared by the customs duties imposed since August 1ᵉʳ on the Swiss products imported into. Nevertheless, the United States.

The decline in exports to 22.2 billion Swiss francs (23.7 billion euros) was accompanied by a drop in imports to 17.9 billion CHF, their lowest level since November 2024. The trade surplus has therefore established 4.3 billion CHF in July, customs indicate. It is 14% less than in June.

The first quarter of the year was strongly marked by a leap in exports to chemistry. the pharmacy to try to anticipate the punitive customs duties imposed by the American administration.

On Wednesday. the federal government announced that it wanted to take a whole series of measures to improve the competitiveness of local businesses and try to partially compensate for the shock of customs switzerland: exports fell july duties. Currently, around 10% of Swiss goods exports are affected by the additional customs duties imposed by the United States. While some companies may be very affected. “Switzerland should not go to a recession marked by strong GDP contractions, as was the case during the financial crisis of 2008-2009 or the Pandemic of Cavid-19; A cyclical program itself is not necessary, ”noted the Federal Council.

Formal watchmaking

Switzerland: exports fell july

Customs emphasize that watchmaking has seen its exports progress For the second month in a row (+8.4%) with an amount of 2.3 billion CHF, the largest of the year. This sector is one of those who risk the most to suffer from American customs duties.

This is also the case with Machine and electronics sectorwhich saw its exports almost stagnate. Its deliveries abroad switzerland: exports fell july “have been relatively stable since January 2024, evolving just below the 2.7 billion francs mark,” note customs. Exports to Europe fell by 4.5%, especially those to France and Austria. They almost stagnated towards the United States (+1.1%) and they fell towards Asia, especially to China.

AFP

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