Switzerland's trade surplus narrowed to CHF 4.3 billion in December 2024, down from an upwardly revised CHF 4.6 billion in November, marking the smallest surplus in three months.
Switzerland's trade surplus narrows in December
Imports surged by 12.8% month-on-month, reaching CHF 20 billion, driven by significant increases in purchases of chemical and pharmaceutical products (+36.8%), jewelry (+8.4%), and energy products (+4.4%). Imports from key countries saw notable rises, mainly from Japan (+103.7%), Saudi Arabia (+68%), and Ireland (+45.1%).
Exports grew at a more modest pace of 8.9%, totaling CHF 24.3 billion. This increase was fueled by higher sales of chemical and pharmaceutical products (+15.8%) and paper and graphic materials (+7.8%). Demand for Swiss exports was robust from Brazil (+32.5%), South Korea (+29%), and the Czech Republic (+21.1%).
Switzerland's trade surplus grows to CHF 60.6B in 2024
Looking at the whole year, Switzerland's trade surplus widened to CHF 60.6 billion in 2024, up from CHF 48.3 billion in 2023. This increase was supported by a 3.2% rise in exports and a 2.5% increase in imports, reflecting stable trade growth despite the softer performance in December.
