FX.co ★ Swiss Trade Surplus Hit Record Peak

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.