Swiss exports in 2009 dropped by 26 billion francs (24.5 billion dollars), falling to 2006 levels, the Federal Customs Administration reported Thursday. "Against the backdrop of the global economic crisis, Swiss foreign trade in 2009 suffered the sharpest decline in decades," the governmental office said, calling last year an "annus horribilis."
Switzerland's exports slumped in 2009 by 12.6 per cent in 2009 to a total of 180.3 billion francs. "This is the sharpest decline since 1944," according to the government. For the full year, imports also suffered a decline, dropping 14.3 per cent to 160.1 billion francs.
The trade surplus Switzerland traditionally maintains hit "record highs" in 2009, with the balance reaching 20.2 billion francs. However, an upward trend in both imports and exports was observed from the third quarter on, after having hit bottom in the winter of last year.
While all of Switzerland's industries, from machinery to watches were in the red for 2009, "food, beverages and tobacco and chemical industries (pharmaceuticals) emerged relatively unscathed, trading at just below prior-year levels," the latest statistics showed.