Forexpros – Switzerland’s trade surplus narrowed more-than-expected in March, as imports rebounded from the previous month’s steep drop, official data showed on Tuesday.
In a report, Switzerland’s Federal Statistics Office said the trade surplus, or difference between imported and exported goods and services narrowed to CHF1.69 billion in March from CHF2.61 billion in February, whose figure was revised down from a surplus of CHF2.68 billion.
Economists had expected the trade surplus to narrow to CHF2.59 billion in March.
The report said that exports declined 2.5% after surging by 12.0% in February, while imports jumped 4.6% in March, following a 12.2% decline in the preceding month.
Following the release of the data, the Swiss franc was mildly higher against the U.S. dollar, with USD/CHF shedding 0.16% to trade at 0.9122.
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