Investing.com – Switzerland's trade surplus narrowed significantly more-than-expected in March, 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 narrowed to CHF1.09 billion in March, down from CHF2.38 billion in February, whose figure was revised down from CHF2.49 billion.
Economists had expected the trade surplus to narrow to CHF2.3 billion in March.
The report said that exports declined 4.8% in March, while imports increased by 1.3%.
Following the release of the data, the Swiss franc was down against the U.S. dollar, with USD/CHF gaining 0.4% to hit 0.8848.
In a report, Switzerland’s Federal Statistics Office said the trade balance, or difference between imported and exported goods and services narrowed to CHF1.09 billion in March, down from CHF2.38 billion in February, whose figure was revised down from CHF2.49 billion.
Economists had expected the trade surplus to narrow to CHF2.3 billion in March.
The report said that exports declined 4.8% in March, while imports increased by 1.3%.
Following the release of the data, the Swiss franc was down against the U.S. dollar, with USD/CHF gaining 0.4% to hit 0.8848.