Switzerland's merchandise trade surplus increased notably in May, but to a lesser extent than economists had forecast, latest data showed Thursday.
The net trade for the month resulted in a surplus of CHF 2.22 billion, which was higher than CHF 1.7 billion recorded in April, the Federal Customs Administration said. Economists had forecast a bigger surplus of CHF 2.4 billion for May.
Export of goods, on a nominal basis, decreased 0.9 percent annually to CHF 17.43 billion during the month. The value of imports, meanwhile, advanced 1 percent year-on-year to CHF 15.21 billion.
Adjusted for price variations, exports fell 5.2 percent from a year earlier, and imports recorded a 1 percent decrease.
During the January-May period, total shipments advanced 0.7 percent from the same period of last year, while imports stayed unchanged. The result was a trade surplus of CHF 9.85 billion.
Elsewhere, the Federation of the Swiss Watch Industry reported that Switzerland's watch exports decreased 3.9 percent year-on-year to CHF 1.84 billion in May. Shipments of wrist watches dropped by 3.8 percent, and exports of other products fell 5.3 percent.
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