Latest data released by the Swiss Federal Statistical Office - 20 November 2018
- Prior CHF 2.43 billion
- Exports +6.3% m/m
- Prior -0.8%; revised to -2.1%
- Imports -3.6% m/m
- Prior -0.4%; revised to -0.1%
- Swiss watch exports +7.2% y/y
- Prior -6.9%; revised to -6.8%
Slight delay in the release by the source. In terms of nominal trade balance there's only a slight increase from CHF 2.23 billion in September to CHF 3.75 billion in October. However, the adjusted figures are showing a rather sizable jump in the trade surplus.
There's a heavy, heavy skew in terms of exports here which has boosted the trade surplus on the month. I believe this is very much a seasonal anomaly but the data here isn't really a market mover by any means either way.
Update: Figures released has been adjusted. Reuters had a misprint earlier stating it was CHF 6.57 billion. This is much more in-line with what it should be despite the exports jump.
