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Swiss Exports Fall Marginally In June

Switzerland's exports decreased marginally in June amid a faster growth in imports, data from the Federal Customs Administration showed Thursday.

Exports dropped by real 0.1 percent on month in June, but slower than the 0.4 percent decrease logged in May. Meanwhile, growth in imports improved to 1.4 percent from 0.8 percent in May.

In nominal terms, exports grew 8.5 percent in June, while imports fell 0.8 percent from previous month. As a result, the trade surplus rose to CHF 3.25 billion in June from CHF 1.5 billion in the previous month.

In the second quarter, exports grew 1.4 percent and imports gained 0.2 percent, taking the trade surplus to CHF 6.8 billion.

Separate data from the Federation of the Swiss Watch Industry showed that watch exports logged a double-digit decline of 10.7 percent in June. The first half of 2019, however, ended with an increase of 1.4 percent.

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