Switzerland CHF

Switzerland Balance of Trade

Info

History

Chart

Impact:

Medium

Source: Federal Customs Administration

Latest Release:

Date:

Surprise:

CHF0.6B

CHF

Actual:

CHF4.3B

Forecast: CHF3.7B

Previous/Revision:

CHF2.2B

Period: Jun

Next Release:

Date:

Period: Jul

What Does It Measure?

The Balance of Trade measures the difference between a country's exports and imports of goods and services over a specific period, explicitly assessing Switzerland's trade strengths or weaknesses. This national indicator focuses on the flow of goods and services, signifying economic health, competitiveness, and foreign demand for Swiss products.

Frequency

The Balance of Trade report is released monthly, with data typically published around the end of the month following the reporting period; it includes both preliminary estimates and final figures.

Why Do Traders Care?

Traders closely monitor the Balance of Trade as it significantly influences the Swiss franc (CHF) and reflects on the nation's economic performance. A higher-than-expected trade surplus can be bullish for the CHF and Swiss equities, while a deficit can lead to bearish sentiment on both the currency and stocks.

What Is It Derived From?

The Balance of Trade is derived from customs data, which includes comprehensive records of all exports and imports of goods, supplemented by services trade information. This calculation involves data collected from various sources, such as government agencies and trade reports, ensuring accuracy in the measurement of trade flows.

Description

The preliminary report provides early insights into trade trends based on raw data, while the final report offers more refined figures that incorporate adjustments and confirm the trends observed. Analysts primarily rely on this balance as a coincident indicator of economic activity, with a focus on changes in foreign demand and domestic production capabilities.

Additional Notes

The Balance of Trade serves as a coincident economic measure, reflecting current trade dynamics that can indicate broader economic trends. Comparisons to similar indicators, such as GDP growth and manufacturing output, highlight its importance in assessing Switzerland's economic resilience and international competitiveness.

Bullish or Bearish for Currency and Stocks

Higher than expected: Bullish for CHF, Bullish for Stocks. Lower than expected: Bearish for CHF, Bearish for Stocks.

Legend

High Potential Impact
This event has a strong potential to move markets significantly. If the 'Actual' value differs enough from the forecast or if the 'Previous' value is significantly revised, it signals new information that markets may rapidly adjust to.

Medium Potential Impact
This event may cause moderate market movement, especially if the 'Actual' deviates from the forecast or there's a notable revision to the 'Previous' value.

Low Potential Impact
This event is unlikely to affect market pricing unless there's an unexpected surprise or a major revision to prior data.

Surprise - Currency May Strengthen
Actual deviated from Forecast on a medium or high impact event and historically could strengthen the currency.

Surprise - Currency May Weaken
Actual deviated from Forcast on a medium or high impact event and historically could weaken the currency.

Big Surprise - Currency More Likely To Strengthen
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely strengthen the currency.

Big Surprise - Currency More Likely To Weaken
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely weaken the currency

Green Number	Better than forecast for the currency (or previous revise better)
Red Number	Worse than forecast for the currency (or previous revise better)
Hawkish	Supports higher interest rates to fight inflation, strengthening the currency but weighing on stocks.
Dovish	Favors lower rates to boost growth, weakening the currency but lifting stocks.

Date	Actual	Forecast	Previous	Surprise
Jul 17, 2025	CHF4.3B	CHF3.7B	CHF2.2B	CHF0.6B
Jun 19, 2025	CHF2B	CHF5.5B	CHF5.4B	CHF-3.5B
May 27, 2025	CHF6.3B	CHF4.7B	CHF5.4B	CHF1.6B
Apr 17, 2025	CHF5.3B	CHF3.9B	CHF4.3B	CHF1.4B
Mar 20, 2025	CHF4.3B	CHF3.9B	CHF4.1B	CHF0.4B
Feb 20, 2025	CHF4B	CHF4.4B	CHF4.4B	CHF-0.4B
Jan 30, 2025	CHF4.3B	CHF1.7B	CHF4.6B	CHF2.6B
Dec 19, 2024	CHF4B	CHF4B	CHF6B
Nov 19, 2024	CHF6B	CHF4.1B	CHF4B	CHF1.9B
Oct 17, 2024	CHF3.9B	CHF1.8B	CHF4B	CHF2.1B
Sep 19, 2024	CHF3.9B	CHF4.3B	CHF4.1B	CHF-0.4B
Aug 20, 2024	CHF4.1B	CHF4.7B	CHF4.7B	CHF-0.6B
Jul 18, 2024	CHF4.9B	CHF2.5B	CHF4.2B	CHF2.4B
Jun 20, 2024	CHF4.1B	CHF3.7B	CHF3.8B	CHF0.4B
May 30, 2024	CHF3.9B	CHF2.4B	CHF3.1B	CHF1.5B
Apr 18, 2024	CHF2.8B	CHF4.1B	CHF2.3B	CHF-1.3B
Mar 19, 2024	CHF2.2B	CHF2.2B	CHF2.7B
Feb 20, 2024	CHF2.8B	CHF1.9B	CHF1.3B	CHF0.9B
Jan 30, 2024	CHF1.4B	CHF3.7B	CHF2.3B	CHF-2.3B
Dec 19, 2023	CHF2B	CHF3.2B	CHF3.4B	CHF-1.2B
Nov 21, 2023	CHF3.4B	CHF4.6B	CHF5B	CHF-1.2B
Oct 19, 2023	CHF5B	CHF4.2B	CHF3.1B	CHF0.8B
Sep 19, 2023	CHF3.2B	CHF2.9B	CHF2.6B	CHF0.3B
Aug 22, 2023	CHF2.6B	CHF3B	CHF3.2B	CHF-0.4B
Jul 20, 2023	CHF3.3B	CHF4.5B	CHF4.4B	CHF-1.2B
Jun 20, 2023	CHF4.3B	CHF2.7B	CHF2.1B	CHF1.6B
Jun 01, 2023	CHF2.2B	CHF3.4B	CHF3.1B	CHF-1.2B
Apr 25, 2023	CHF3.1B	CHF2.9B	CHF2.4B	CHF0.2B
Mar 21, 2023	CHF2.5B	CHF3.6B	CHF2.9B	CHF-1.1B
Feb 21, 2023	CHF3.1B	CHF1.7B	CHF2.8B	CHF1.4B
Jan 24, 2023	CHF2.8B	CHF1.6B	CHF0.6B	CHF1.2B
Dec 20, 2022	CHF0.5B	CHF3.2B	CHF2.9B	CHF-2.7B
Nov 17, 2022	CHF3B	CHF2.9B	CHF2.9B	CHF0.1B
Oct 20, 2022	CHF2.78B	CHF2.6B	CHF2.3B	CHF0.18B
Sep 20, 2022	CHF2.34B	CHF2.8B	CHF2.35B	CHF-0.46B
Aug 18, 2022	CHF2.42B	CHF1.8B	CHF2.53B	CHF0.62B
Jul 19, 2022	CHF2.57B	CHF3.9B	CHF1.9B	CHF-1.33B
Jun 21, 2022	CHF2B	CHF2.7B	CHF3.6B	CHF-0.7B
May 31, 2022	CHF3.8B	CHF2.2B	CHF1.8B	CHF1.6B
Apr 26, 2022	CHF1.8B	CHF4.5B	CHF5.5B	CHF-2.7B
Mar 17, 2022	CHF5.7B	CHF2.9B	CHF2B	CHF2.8B
Feb 17, 2022	CHF2.2B	CHF4B	CHF3.7B	CHF-1.8B
Jan 27, 2022	CHF4B	CHF4B	CHF4.1B
Dec 21, 2021	CHF4.2B	CHF4.2B	CHF4.3B
Nov 18, 2021	CHF4.4B	CHF4B	CHF4.3B	CHF0.4B
Oct 19, 2021	CHF4.4B	CHF4.1B	CHF4.6B	CHF0.3B
Sep 21, 2021	CHF4.5B	CHF3.6B	CHF4.2B	CHF0.9B
Aug 19, 2021	CHF4.1B	CHF4B	CHF4.4B	CHF0.1B
Jul 20, 2021	CHF4.3B	CHF4.1B	CHF4.2B	CHF0.2B
Jun 17, 2021	CHF4.3B	CHF2.9B	CHF3.3B	CHF1.4B
May 27, 2021	CHF3.3B	CHF3.6B	CHF3.9B	CHF-0.3B
Apr 22, 2021	CHF3.9B	CHF2.9B	CHF3.4B	CHF1B
Mar 18, 2021	CHF3.3B	CHF2.9B	CHF3.58B	CHF0.4B
Feb 18, 2021	CHF3.58B	CHF3.2B	CHF3.1B	CHF0.38B
Jan 28, 2021	CHF3.05B	CHF2.7B	CHF3.07B	CHF0.35B
Dec 17, 2020	CHF3.1B	CHF3.2B	CHF2.9B	CHF-0.1B
Nov 19, 2020	CHF2.9B	CHF3B	CHF2.4B	CHF-0.1B
Oct 20, 2020	CHF2.7B	CHF3.2B	CHF3.3B	CHF-0.5B
Sep 17, 2020	CHF3.4B	CHF2.9B	CHF2.49B	CHF0.5B
Aug 20, 2020	CHF2.58B	CHF3B	CHF2.74B	CHF-0.42B
Jul 21, 2020	CHF2.8B	CHF2.5B	CHF2.68B	CHF0.3B
Jun 18, 2020	CHF2.81B	CHF3.7B	CHF4.2B	CHF-0.89B
May 26, 2020	CHF4.3B	CHF4B	CHF3.1B	CHF0.3B
Apr 21, 2020	CHF3.2B	CHF3.8B	CHF2B	CHF-0.6B
Mar 19, 2020	CHF2B	CHF3.2B	CHF2.8B	CHF-1.2B
Feb 20, 2020	CHF2.8B	CHF1.5B	CHF2B	CHF1.3B
Jan 28, 2020	CHF2B	CHF1.8B	CHF2.3B	CHF0.2B
Dec 19, 2019	CHF2.2B	CHF1.8B	CHF2.4B	CHF0.4B
Nov 19, 2019	CHF2.4B	CHF2.8B	CHF3B	CHF-0.4B
Oct 17, 2019	CHF2.9B	CHF2.3B	CHF1.11B	CHF0.6B
Sep 19, 2019	CHF1.15B	CHF2.4B	CHF2.6B	CHF-1.25B
Aug 20, 2019	CHF2.7B	CHF2B	CHF3.2B	CHF0.7B
Jul 18, 2019	CHF3.3B	CHF1.6B	CHF1.5B	CHF1.7B
Jun 20, 2019	CHF1.7B	CHF1.5B	CHF1.9B	CHF0.2B
May 28, 2019	CHF1.9B	CHF2.1B	CHF2.5B	CHF-0.2B
Apr 18, 2019	CHF2.5B	CHF2.1B	CHF1.99B	CHF0.4B
Mar 19, 2019	CHF2.04B	CHF1B	CHF1.39B	CHF1.04B
Feb 19, 2019	CHF1.39B	CHF1.1B	CHF1.76B	CHF0.29B
Jan 29, 2019	CHF1.79B	CHF3.2B	CHF3B	CHF-1.41B
Dec 20, 2018	CHF3.07B	CHF2.1B	CHF2.55B	CHF0.97B
Nov 20, 2018	CHF2.64B	CHF1.2B	CHF1.27B	CHF1.44B
Oct 18, 2018	CHF1.45B	CHF2.1B	CHF1.36B	CHF-0.65B
Sep 20, 2018	CHF1.41B	CHF1.7B	CHF1.17B	CHF-0.29B
Aug 21, 2018	CHF1.15B	CHF2.5B	CHF1.22B	CHF-1.35B
Jul 19, 2018	CHF1.31B	CHF3B	CHF1.24B	CHF-1.69B
Jun 21, 2018	CHF2.26B	CHF3.2B	CHF2.72B	CHF-0.94B
May 29, 2018	CHF2.8B	CHF2.23B	CHF2.25B	CHF0.57B
Apr 24, 2018	CHF2.3B	CHF2.9B	CHF3.18B	CHF-0.6B
Mar 20, 2018	CHF3.2B	CHF2.641B	CHF1.1B	CHF0.559B
Feb 20, 2018	CHF1.324B	CHF2.78B	CHF3.374B	CHF-1.456B
Jan 30, 2018	CHF2.632B	CHF2.748B	CHF2.582B	CHF-0.116B
Dec 21, 2017	CHF2.633B	CHF2.877B	CHF2.333B	CHF-0.244B
Nov 21, 2017	CHF2.333B	CHF2.7B	CHF2.815B	CHF-0.367B
Oct 19, 2017	CHF2.918B	CHF2.47B	CHF2198M	CHF0.448B
Sep 21, 2017	CHF2170M	CHF2410M	CHF3494M	CHF-240M
Aug 22, 2017	CHF3.5B	CHF2.88B	CHF2.8B	CHF0.62B
Jul 20, 2017	CHF2.8B	CHF2.89B	CHF3.4B	CHF-0.09B
Jun 22, 2017	CHF3.4B	CHF2.44B	CHF1.96B	CHF0.96B
May 23, 2017	CHF1.97B	CHF2.6B	CHF3.1B	CHF-0.63B
Apr 27, 2017	CHF3.1B	CHF3.01B	CHF3.1B	CHF0.09B
Mar 21, 2017	CHF3.1B	CHF3.85B	CHF4.8B	CHF-0.75B
Feb 21, 2017	CHF4.7B	CHF3.03B	CHF2.7B	CHF1.67B
Jan 26, 2017	CHF2.7B	CHF2.81B	CHF3.5B	CHF-0.11B
Dec 20, 2016	CHF3.64B	CHF3.1B	CHF2.66B	CHF0.54B
Nov 22, 2016	CHF2.68B	CHF3.89B	CHF4.33B	CHF-1.21B
Oct 20, 2016	CHF4.37B	CHF3.27B	CHF3.01B	CHF1.1B
Sep 20, 2016	CHF3.02B	CHF3.27B	CHF2.81B	CHF-0.25B
Aug 23, 2016	CHF2.93B	CHF3.79B	CHF3.51B	CHF-0.86B
Jul 21, 2016	CHF3.55B	CHF3.49B	CHF3.78B	CHF0.06B
Jun 21, 2016	CHF3.79B	CHF2.88B	CHF2.5B	CHF0.91B
May 24, 2016	CHF2.5B	CHF2.8B	CHF2.18B	CHF-0.3B
Apr 21, 2016	CHF2.16B	CHF3B	CHF4.02B	CHF-0.84B
Mar 22, 2016	CHF4.07B	CHF2.88B	CHF3.51B	CHF1.19B
Feb 18, 2016	CHF3.513B	CHF2.67B	CHF2.59B	CHF0.843B
Jan 26, 2016	CHF2.54B	CHF3.33B	CHF3.16B	CHF-0.79B
Dec 22, 2015	CHF3.14B	CHF3.82B	CHF4.08B	CHF-0.68B
Nov 19, 2015	CHF4.16B	CHF3.4B	CHF3.25B	CHF0.76B
Oct 20, 2015	CHF3.05B	CHF2.51B	CHF2.86B	CHF0.54B
Sep 22, 2015	CHF2.87B	CHF2.91B	CHF3.58B	CHF-0.04B
Aug 20, 2015	CHF3.74B		CHF3.51B
Jul 21, 2015	CHF3.578B	CHF2.1B	CHF3.409B	CHF1.478B
Jun 18, 2015	CHF3.43B	CHF2.7B	CHF2.66B	CHF0.73B
May 28, 2015	CHF2.85B	CHF2.77B	CHF2.49B	CHF0.08B