Switzerland’s trade surplus widened to CHF 8.1 billion in July 2026 from CHF 3.8 billion in June, reaching its highest level since records began in January 1950. Exports rose 13.8% month-on-month to CHF 27.8 billion, the strongest reading in more than a year, driven by a sharp rebound in chemical and pharmaceutical products (25.7%) and a second consecutive monthly increase in watch exports (5.8%).
By destination, exports to Europe surged 22.9%, supported by robust growth in shipments to Slovenia (127.5%), Italy (25.5%), and Germany (6.7%). In contrast, exports to North America fell 3%, with sales to the US down 1.8% and to Canada down 15.1%.
Meanwhile, imports declined 4.5% from the previous month to CHF 19.6 billion, a three-month low, weighed down by lower purchases of chemical and pharmaceutical products (-10.2%) and vehicles (-6%). Regionally, imports from Europe fell 3.4%, while those from Asia and from Central and South America each declined by 3.4% and 8.4%, respectively.
