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flag Switzerland's trade surplus rose in January 2026, driven by stronger exports, especially in chemicals and pharmaceuticals, despite declines in watch exports to the U.S.

flag Switzerland's trade surplus grew to CHF 3.6 billion in January 2026, up from CHF 2.9 billion in December, as exports rose 3.6% in real terms, driven by a 7.8% increase in chemical-pharmaceutical shipments, while imports edged up 1.0%. flag Watch exports fell 3.6% year-on-year to CHF 1.9 billion, mainly due to sharp declines in sales to the U.S. and high-end models, though shipments to China and Hong Kong rose. flag Despite temporary trade relief, the sector faces ongoing challenges in key markets.

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