Swiss Trade Surplus Nearly Doubles in Q2 2026 as Exports Surge
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Swiss Trade Surplus Doubles in Q2 2026 on Export Boom, SNB Reports
Swiss National Bank Reveals Significant Growth in Trade Surplus
ZURICH, Sept 22 (Reuters) – Switzerland’s trade surplus nearly doubled to 23.7 billion Swiss francs ($28.86 billion) during the second quarter of 2026, the Swiss National Bank said on Tuesday, as the country sold more goods abroad.
Balance of Payments and Goods Trade
The balance of payments widened from 13.8 billion francs a year earlier, due mainly to a increase in goods trade, the SNB said, although it noted the comparable surplus was relatively low for the same period in 2025.
Goods and Services Breakdown
Switzerland recorded a goods trading surplus of nearly 30 billion francs during the quarter, and a deficit of 4.4 billion francs for services.
Current Account and Economic Recovery
The overall current account surplus was the widest since the first quarter of 2025, and reflected the recovery of Switzerland’s export-orientated economy, which was shaken last year by higher tariffs imposed by the United States.
Export Growth and Government Forecast
Swiss exports increased by 5.5% in the second quarter, leading to the government last week upgrading its forecast for economic growth this year.
Transit Trade and Gold Trading Deficit
There was also an increased in the transit trade – where companies buy goods and services abroad and resell them directly to another country without the goods ever passing through Switzerland.
The deficit on gold trading was also smaller than a year earlier, the SNB said.
Exchange Rate and Reporting
($1 = 0.8211 Swiss francs)
(Reporting by John Revill, Editing by Friederike Heine)
