Swiss exports reach all-time high

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Investec
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Data published on 17 March 2022 showed a 15.4% jump in Swiss exports in February 2022. The sharp rise in exports when combined with a 2.9% fall in imports led to a monthly trade balance of CHF 5.7 million. This is the first time in history that Switzerland’s monthly trade balance has exceeded CHF 5 million.

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In February 2022, Switzerland exported CHF 24.0 billion worth of products while importing CHF 18.3 billion, creating a net trade balance of CHF 5.7 billion.

Between January and February, exports rose by CHF 3.2 billion. 89% of the monthly rise (+2.8 billion) came from the pharmaceutical sector where exports leapt by 27% between January and February 2022. Exports of medicines (+44%) and immunological products (+4%) jumped most sharply. In addition to the pharmaceutical sector, Swiss watch exports rose by 8%.

Exports to the EU (50%), the US (21%), China (6%), other European nations (6%) and other Asian countries (13%) accounted for 96% of total Swiss export revenues.

The highest export growth rates in February were recorded with the EU (+6%), the UK (+4%), Russia (+15%), the US (+52%), China (+19%), Taiwan (+32%), Mexico (11%) and Egypt (+18%).

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Investec is a distinctive Specialist Bank and Asset Manager. We provide a diverse range of financial products and services to a niche client base in three principal markets, the United Kingdom, South Africa and Australia, as well as certain other geographies. Investec’s strategic goals are motivated by the desire to develop an efficient and integrated business on an international scale through the active pursuit of clearly established core competencies in the group’s principal business areas.

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