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Swiss April Exports Slip As Franc Hits Demand
Switzerland's exports declined in April as the strength of the Swiss franc curbed demand in the European Union and the U.S. for its chemicals, pharmaceuticals and watches. Exports in April fell 1.3% from a year earlier, in real terms, to 16.3 billion Swiss francs ($17.2 billion), the customs office said Thursday. In nominal terms, exports dropped 5.1%, it said. Imports reached CHF13.4 billion, down 0.7% in real terms and 8.1% lower in nominal terms. The April trade surplus widened to CHF2.9 billion from CHF2.5 billion in March. Watch exports in April dropped a nominal 0.8%, according to the customs office. Watch ... (full story)