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Swiss Trade Surplus Hits New Record High In 2011
Switzerland posted an all-time high trade surplus in 2011, helped by strong trade in chemicals and chemical products, the Federal Customs Administration said Thursday. The trade balance resulted in a surplus of CHF 23.8 billion in 2011, which is 22 percent higher than 2010. Chemical industry was the largest contributor to the favorable outcome with a trade balance of CHF 37 billion. In 2011, exports climbed 2.1 percent, slower than 7.2 percent surge in 2010. Imports, meanwhile, fell 0.1 percent after 8.6 percent increase in the previous month. During the fourth quarter, the trade surplus amounted to CHF 7.22 billion, ... (full story)