Swiss Current Account Surplus Expands In Q2

(RTTNews) - Switzerland’s current account surplus widened to CHF 13.2 billion in the second quarter from CHF 8.5 billion recorded in the first quarter, data released by the Swiss National Bank showed Wednesday.

The current account surplus increased mainly due to goods trade surplus that rose to CHF 5.1 billion in the second quarter from CHF 1.5 billion in the first quarter and an increase in the investment income surplus to CHF 4 billion from CHF 2.2 billion. Moreover, the current transfers deficit narrowed to CHF 2.8 billion from CHF 4 billion.

At the same time, the surplus on services trade contracted to CHF 10.2 billion from first quarter’s CHF 12.1 billion surplus and the deficit on labor income remained unchanged at CHF 3.3 billion.

Switzerland’s capital account deficit was stable at CHF 0.9 billion and the financial account balance turned to a deficit of CHF 26 billion from a surplus of CHF 20.9 billion.

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