Balance of trade · Switzerland
Switzerland Balance of Trade
The Switzerland Balance of Trade shows the difference between the value of goods (and sometimes services) that Switzerland sells abroad and what it buys from abroad, or the growth of exports and imports.
- Importance
- Medium
- Released
- Monthly
- Next release
- Currency
- CHF · Swiss franc
- Central bank
- The Swiss National Bank
Latest figures
The latest release for SEP, published on 20 October 2026, came in at CHF1.4B.
| Released | For | Actual | Consensus | Previous |
|---|---|---|---|---|
| 20 Oct 2026 | SEP | CHF1.4B | – | CHF5.4B ® |
| 17 Sep 2026 | AUG | CHF5.6B | – | CHF8.1B |
| 20 Aug 2026 | JUL | CHF8.1B | – | CHF3.8B |
| 21 Jul 2026 | JUN | CHF3.8B | – | CHF5.5B ® |
| 18 Jun 2026 | MAY | CHF5.6B | – | CHF3.3B ® |
| 2 Jun 2026 | APR | CHF3.2B | – | CHF2.6B ® |
| 21 Apr 2026 | MAR | CHF2.7B | – | CHF4.3B ® |
| 19 Mar 2026 | FEB | CHF4.4B | – | CHF3.5B ® |
| 19 Feb 2026 | JAN | CHF3.6B | – | CHF2.9B ® |
| 29 Jan 2026 | DEC | CHF3B | – | CHF3.9B ® |
| 18 Dec 2025 | NOV | CHF3B | – | CHF2.5B ® |
| 20 Nov 2025 | OCT | CHF2.6B | – | CHF2.7B ® |
Why it matters
Exports are a big part of demand for open economies (Germany, China, Japan, Korea, the Netherlands). A larger surplus means more foreign demand for the Swiss franc; strong imports signal domestic demand. China's figures are read as a gauge of world demand.
How it is calculated
Customs records the value of goods crossing the border; services come from surveys. The balance is exports minus imports, usually seasonally adjusted.
Trade balance = exports − importsWhat changes mean
- Look at exports and imports separately: a wider surplus from collapsing imports is a sign of weak domestic demand, not strength.
- Exchange-rate moves take months to affect trade volumes (the J-curve).
Higher than expected: A larger surplus (or smaller deficit) than expected tends to support the Swiss franc.
Lower than expected: A smaller surplus (or larger deficit) than expected tends to weigh on the Swiss franc.
A short history
Trade balances were the obsession of mercantilism in the 16th–18th centuries; David Hume's price-specie flow mechanism (1752) explained why surpluses tend to correct themselves.
Questions
What is the Switzerland Balance of Trade?
The Switzerland Balance of Trade shows the difference between the value of goods (and sometimes services) that Switzerland sells abroad and what it buys from abroad, or the growth of exports and imports.
What was the latest Switzerland Balance of Trade?
CHF1.4B for SEP, published on 20 October 2026.
When is the next Switzerland Balance of Trade?
On Thursday 19 November 2026 at 07:00 UTC.
Educational content only, not investment advice. Figures are the published results as recorded by our calendar; market reactions described are typical, not guaranteed.