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 billion. This is the first time in history that Switzerland’s monthly trade balance has exceeded CHF 5 billion.
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%).