FX.co ★ Switzerland’s Trade Surplus Narrows Sharply in December to CHF 1.036 Billion

Switzerland’s trade balance recorded a marked decline in December 2025, with the surplus shrinking to CHF 1.036 billion, down from CHF 3.841 billion in November 2025. The latest figures, updated on 29 January 2026, point to a significant month‑on‑month weakening in the country’s external position.

The contraction in the surplus suggests either softer export performance, stronger import demand, or a combination of both, compared with the previous month. While November’s data had reflected a robust trade position, December’s pullback highlights increased volatility in Switzerland’s trade flows toward the end of 2025.

Investors and analysts will be watching subsequent releases closely to determine whether December’s result marks the beginning of a more sustained narrowing in Switzerland’s trade surplus or a temporary adjustment following November’s strong reading.