Swiss Trade Surplus Narrows as Exports Falter
The Swiss February trade surplus narrowed to just CHF0.12 bln from 0.73 bln in January. Exports fell 7.9% y/y in nominal terms in February and were down 12.2% y/y in real terms. Meanwhile, imports fell 1.2% y/y in nominal terms. The data highlight how Switzerland's important export sector is now suffering as global demand weakens. Meanwhile, negative import growth emphasizes dwindling domestic demand.