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Swiss July exports fall

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Switzerland’s exports fell in July, as the strength of the Swiss franc curbed demand in the European Union and Asia for chemicals, pharmaceuticals, machinery and watches.

Exports in July fell 4.9% from a year earlier, in real terms, to 17.93 billion Swiss francs ($18.6 billion), the customs office said Thursday. In nominal terms, exports dropped 7.4%, it said.

Imports reached CHF14.19 billion, an increase of 0.2% in real terms but 8.3% lower in nominal terms.

Watch exports in July fell a nominal 9.3%, according to the customs office. Watch exports were worth CHF1.9 billion, for a decline of 10% in real terms.