Investing.com – Switzerland's trade balance fell more-than-expected in August, official data showed on Tuesday.
In a report, Switzerland’s Federal Statistics Office said the trade balance, or difference between imported and exported goods and services fell to CHF 0.57 billion in August, down from CHF 2.84 billion in July, whose figure was revised down from CHF 2.89 billion.
Economists had expected the trade balance to fall to CHF 2.84 billion in August.
The report said that exports dropped by 1.4% in August, while imports rose by 9.1% in the month.
Following the release of the data, the Swiss franc was up against the U.S. dollar, with USD/CHF shedding 0.01% to hit 1.0047.
In a report, Switzerland’s Federal Statistics Office said the trade balance, or difference between imported and exported goods and services fell to CHF 0.57 billion in August, down from CHF 2.84 billion in July, whose figure was revised down from CHF 2.89 billion.
Economists had expected the trade balance to fall to CHF 2.84 billion in August.
The report said that exports dropped by 1.4% in August, while imports rose by 9.1% in the month.
Following the release of the data, the Swiss franc was up against the U.S. dollar, with USD/CHF shedding 0.01% to hit 1.0047.