Latest data out from the SNB 21 Dec
- reduced receipts from labour and investment income offset a higher surplus from trade in goods
- the financial account recorded a net acquisition of CHF 49 billion (Q3 2015: CHF 43 billion), which was largely attributable to the other investment item as well as reserve assets.
Says the SNB:
Receipts
Receipts from total goods trade amounted to CHF 78 billion, CHF 6 billion higher than in the year-back quarter. Goods exports according to foreign trade statistics (total 1) increased by CHF 3 billion year-on-year to CHF 53 billion in the third quarter. Exports were up in the chemical and pharmaceutical industry, and in jewellery, in particular, while they receded in the watch industry. Receipts from non-monetary gold trading came to CHF 21 billion, compared to CHF 17 billion in the year-back quarter.
At CHF 6 billion, net merchanting receipts remained on a par with the year-back figure. Receipts from trade in services with foreign countries in the third quarter amounted to CHF 28 billion, up CHF 1 billion over the year-back figure. An increase was registered in insurance and pension services, telecommunications, computer and information services, business services, and licence fees, whereas receipts from transport declined. As a result of lower receipts from investment abroad (particularly direct investment), primary income (labour and investment income) decreased by CHF 4 billion to CHF 32 billion.
Secondary income (current transfers) advanced by CHF 1 billion to CHF 10 billion compared with the third quarter of 2015.
Expenses
Expenses for total goods trade amounted to CHF 62 billion, a CHF 4 billion increase over the year-back quarter. Goods imports according to foreign trade statistics (total 1) increased by CHF 2 billion to CHF 42 billion compared to the year-back level. The largest rise was recorded in chemical and pharmaceutical products, and in motor vehicles.
Expenses from non-monetary gold trading came to CHF 18 billion, compared to CHF 17 billion in the third quarter of 2015. At CHF 23 billion, expenses in services imports exceeded the figure for the year-back quarter by CHF 1 billion. This was primarily attributable to higher expenses for telecommunications, computer and information services as well as business services. The other components did not change significantly from their third quarter 2015 levels.
Expenses in the case of primary income (labour and investment income) remained unchanged at CHF 31 billion. With regard to secondary income (current transfers), expenses totalled CHF 12 billion, equalling the amount in the year-back quarter.
Full report here
