Exports, the backbone of the Swiss economy, fell in April. Trade with the United States, which has introduced a range of tariffs, posted a double-digit fall. +Get the most important news from Switzerland in your inbox In seasonally adjusted terms, exports fell by 9.2% and imports by 15.6%, according to the Federal Office of Customs and Border Protection. However, shipments abroad continued to grow at a high level, totaling CHF25.2 billion, the second highest level ever recorded. + Trump tariff shock: how Switzerland is positioning itself Last month, "the decline in outflows was entirely due to chemical and pharmaceutical products", said the customs authority. Compared to their record level of the previous month, these exports fell by CHF3.0 billion or 17.1%. This was mainly due to the 43.9% drop in pharmaceuticals, to CHF-2.9 billion. On the other hand, shipments of watches abroad soared by 16% to a record monthly high of CHF2.6 billion. The marked contraction in imports led to a ...
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