Swiss Trade Surplus Expands in January

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Switzerland’s trade surplus widened to CHF 3.6 billion in January 2026, from a downwardly revised CHF 2.9 billion in the previous month, as exports rose while imports decreased. Exports grew 2.3% month-on-month to CHF 23.0 billion, largely due to higher sales of chemical and pharmaceutical products, which rose 4.9% after a 10.6% drop in December. Exports of machinery, electronics, and equipment also increased 2.0%. Meanwhile, imports fell 0.9% to CHF 19.4 billion, dragged mainly by reduced purchases of machinery, electronics, and equipment (-1.1%), which offset a modest rise in imports of chemical and pharmaceutical products (0.1%).

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