Swiss Trade Surplus Shrinks In Q4

(RTTNews) - Switzerland's foreign trade surplus decreased in the final quarter of 2025 as exports fell amid an increase in imports, data from the Federal Customs Administration showed on Thursday.

The trade surplus for the fourth quarter was CHF 11.9 billion, down from CHF 13.2 billion in the third quarter.

In real terms, exports declined 4.0 percent after a 4.6 percent fall in the September quarter. Meanwhile, imports rose 1.2 percent versus a 1.6 percent growth in the previous three-month period.

Exports of chemical and pharmaceutical products alone decreased 6.9 percent, and those of jewelry and precious metal goods plunged by 8.8 percent. Meanwhile, outflows of machines, electronics, and apparatus remained flat.

In nominal terms, exports climbed 0.8 percent, and imports were 3.3 percent higher compared to the third quarter.

During the year 2025, the total trade surplus of the country was CHF 54.3 billion, down from CHF 60.4 billion in 2024. Exports declined by a real 3.8 percent, and imports rose 3.4 percent.

In December, both exports and imports fell by 0.7 percent and 1.3 percent, respectively, compared to November.

According to the Federation of the Swiss Watch Industry, watch exports grew 3.3 percent year-on-year in December. In the whole year 2025, total watch exports registered a decrease of 1.7 percent compared with 2024.