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Swiss exports slip as strong Franc hits Demand

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Switzerland’s exports fell in August as the strength of the Swiss franc diminished demand in the European Union and China for its chemicals, pharmaceuticals, machinery and watches.

Exports in August fell 2.1% from a year earlier, to 14.23 billion Swiss francs ($14.64 billion), the customs office said Tuesday. In nominal terms, exports dropped 4.5%, it said.

Imports reached CHF11.36 billion, reduced by 7.4% in real terms and 16.4% lower in nominal terms.

Watch exports in August fell a nominal 1.6%, according to the customs office. Watch exports were worth CHF1.47 billion, for a decline of 4.1% in real terms.