Switzerland’s trade narrowed to CHF 1.79B from a revised reading of CHF2.21B in July, while foreign demands for Swiss goods rose for the second consecutive month in August. Exports rose 2.0% after increasing 4.1% during the previous month, while imports plunged 2.5% after falling 1.1% in July. The breakdown of the report, which focused on Switzerland’s major export of wrist watches, showed that steel was the most profitable export with a volume of 649.2, while Hong Kong presented to be the country’s greatest purchaser of wrist watches according to the Federation of Swiss Watch industry. The data foreshadows an improved outlook for the export-driven as the economic recovery in China drives global demands, and trade conditions are likely to improve throughout the second half of the year as global policy makers take unprecedented steps to stimulate the world economy.
