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Swiss October Trade Surplus Tops Forecast

Switzerland's trade surplus grew in October and exceeded economists' expectations as exports rose to record high, figures from the Swiss Federal Customs Administration revealed Thursday.

The trade surplus grew to CHF 3.26 billion from CHF 2.49 billion in September. Economists had forecast a surplus of CHF 2.57 billion.

Exports rose a seasonally adjusted 4.7 percent monthly to set a record of CHF 19.76 billion. The latest increase was the biggest in four months and came after a 3.6 percent slump in the previous month. Year-on-year, exports grew a real 5.3 percent after a 2 percent fall in September.

Demand from the U.S. market improved. Export growth in October was led by increased shipments of medical instruments and equipment.

Imports climbed 2.7 percent from September, when they fell 6.2 percent. Annually, imports increased 0.3 percent in real terms after a 3.1 percent drop in the previous month.

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