Investing.com – Switzerland's trade surplus narrowed unexpectedly in January, as exports declined, 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 CHF1.55 billion in January, down from CHF2.01 billion in December, whose figure was revised down from a surplus of CHF2.07 billion.
Economists had expected the trade surplus to widen to CHF2.50 billion in January.
The report said that exports declined 3.4% after climbing 6.1% in December, while imports rose 3.6% in January, following a 7.6% increase in the preceding month.
Following the release of the data, the Swiss franc was fractionally higher against the U.S. dollar, with USD/CHF edging down 0.1% to trade at 0.9107.
In a report, Switzerland’s Federal Statistics Office said the trade balance, or difference between imported and exported goods and services narrowed to CHF1.55 billion in January, down from CHF2.01 billion in December, whose figure was revised down from a surplus of CHF2.07 billion.
Economists had expected the trade surplus to widen to CHF2.50 billion in January.
The report said that exports declined 3.4% after climbing 6.1% in December, while imports rose 3.6% in January, following a 7.6% increase in the preceding month.
Following the release of the data, the Swiss franc was fractionally higher against the U.S. dollar, with USD/CHF edging down 0.1% to trade at 0.9107.