Forexpros – Switzerland’s trade surplus widened more-than-expected in May, as exports rose for the first time in three months, official data showed on Thursday.

In a report, Switzerland’s Federal Statistics Office said the trade surplus, or difference between imported and exported goods and services widened to CHF2.48 billion in May from CHF1.26 billion in April, whose figure was revised down from a surplus of CHF1.33 billion.

Economists had expected the trade surplus to widen to CHF1.97 billion in May.

The report said that exports rose 1.8% after falling by 0.7% in April while imports dipped 0.1% in May, following a 3.1% increase in the preceding month.

Following the release of the data, the Swiss franc was lower against the U.S. dollar, with USD/CHF adding 0.25% to trade at 0.9475.