Switzerland's trade surplus increased in the first quarter due to the rebound in exports, data from the Federal Customs Administration showed on Tuesday.
The trade surplus rose to CHF 8.28 billion in the first quarter from CHF 6.39 billion in the fourth quarter.
The improvement was driven by the 5.0 percent sequential increase in exports, following a 1.7 percent drop in the preceding period. At the same time, imports advanced 1.0 percent, reversing a 0.2 percent fall in the fourth quarter.
The customs office said developments in the chemical-pharmaceutical sector had a notable influence on overall trade.
In March, the trade surplus increased to CHF 8.3 billion from CHF 6.4 billion in the previous quarter. In nominal terms, exports gained 1.8 percent, while imports fell 1.4 percent.
Elsewhere, data from the Federation of the Swiss Watch Industry showed that the steady growth in watch exports improved further in March. Exports posted a double-digit growth of 13.8 percent.
As a result, the annual increase in exports for the first quarter came in at 11.8 percent.
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