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Swiss Exports Growth Slows In Q2

Switzerland's exports grew at a softer pace in the second quarter, data from the Federal Customs Administration showed on Tuesday.

Exports increased 1.0 percent sequentially in the second quarter, after a 5.0 percent rise in the first quarter.

Imports grew 1.2 percent in the second quarter, after a 1.7 percent rise in the previous quarter.

In nominal terms, exports rose 3.2 percent quarterly and imports grew 3.8 percent in the second quarter.

The trade surplus rose to CHF 11.525 billion in the second quarter from CHF 11.4 billion in the previous quarter. In the second quarter of 2020, the trade surplus was CHF 9.093 billion.

In June, exports declined 3.0 percent monthly, after a 1.9 percent growth in May.

Imports decreased 2.7 percent month-on-month in June, following a 1.4 percent drop in the prior month.

According to the Federation of the Swiss Watch Industry, watch exports grew 12.5 percent year-on-year in June.

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