Swiss companies exported machinery product in the value of CHF1.45 billion ($1.46 billion) to China and Hong Kong in the first six months of 2018, according to figures released by the Swiss Federal Customs Administration. This represents an increase of 10% compared to the first half of 2017.
This content was published on
2 minutes
swissinfo.ch/ds
Nicolas Musy, founder of the Swiss Centers China, said the Asian country’s thirst for automation has increased demand for high-quality machines from the Alpine nation.
“Chinese manufacturers upgrade their equipment and automation becomes ever more important. Highest quality machines are in high demand – that is why China will remain a key market for Swiss machinery companies in the coming years,” he said in a statement published on Thursday.
Since 2016, Swiss machinery exports to China and Hong Kong have been on the rise.
The Chinese market (including Hong Kong) is the third biggest market for Swiss machinery products worldwide. The largest market remains Germany (CHF4.1billion), followed by the United States (CHF1.8 billion).
Switzerland exported CHF8.9 billion in goods to China and Hong Kong in the first half of 2018, with imports amounting to CHF7.4 billion, resulting in a trade surplus of CHF1.5 billion.
Swiss watches and precision instrument exports boomed in the first half of 2018 to a value of CHF4 billion. That figure represents a 17.5% increase compared to the same period the previous year.
“After the Swiss watch exports experienced a strong decline due to a Chinese anti-corruption campaign, the current rebound and growth is driven by a healthier consumption of a quickly growing middle class and a sophistication of the Chinese consumers,” explained Zhen Xiao, Managing Director of the Swiss Centers China.
The figures and analysis were presented in a statement issued by the Swiss Centers China, the largest cluster of Swiss enterprises in Asia.
Popular Stories
More
Swiss Abroad
Thousands of emigrants’ descendants in Argentina demand Swiss citizenship
Swiss man who died in Iranian prison had photographed military site
This content was published on
The Iranian judiciary said that the Swiss man who died in an Iranian prison on January 9 had been detained for photographing a restricted military site.
Swiss researchers patent new device for avalanche detection
This content was published on
The WSL Institute for Snow and Avalanche Research said it has granted a group of Swiss researchers a patent for a device to enhance avalanche warnings.
Berset discusses ECHR climate ruling implementation at Davos
This content was published on
Switzerland has submitted a report on the court's ruling in Strasbourg. Berset told Justice Minister Beat Jans that the Council of Europe is reviewing it.
This content was published on
A 27-year-old ski tourer has died in the hospital in Sion, in southwestern Switzerland, after being caught in an avalanche on Saturday.
Swiss health minister criticises Trump’s ‘rash’ WHO exit
This content was published on
Switzerland has expressed “deep” regret over Trump’s decision to withdraw from the WHO, Swiss Health Minister Elisabeth Baume-Schneider said in Davos.
This content was published on
Job vacancies in Switzerland fell by 10% in 2024, marking the first negative annual balance since the Covid-19 pandemic, says Adecco.
Swiss president meets Zelensky in Davos amid tensions with Europe
This content was published on
Swiss President met Zelensky at Davos. As Zelensky thanked Switzerland, Keller-Sutter said it's too early to discuss a new summit, awaiting Trump's actions.
Basel diocese files five claims of sexual abuse in Swiss Catholic Church
This content was published on
The diocese of Basel has received 141 reports of sexual abuse since the publication of a sweeping study on violations in the Catholic Church by the University of Zurich in 2023.
Swiss president calls for open markets and stable institutions in WEF speech
This content was published on
Swiss President Karin Keller-Sutter was among speakers at the WEF in Davos to make the case for fair competition, a day after Donald Trump became the 47th president of the United States.
Swiss film in competition at the 75th Berlinale has a shot at Golden Bear
This content was published on
The feature film La Cache by Lausanne screenwriter and director Lionel Baier has a chance of winning the Silver or Golden Bear at the 75th Berlinale, festival organisers said on Tuesday.
Parliamentarians warn Swiss firms may lose out over Japan-EU trade deal
This content was published on
The Japan-EU free trade deal is likely to put pressure on Swiss industrial companies and farmers which export to Japan, say parliamentarians in Bern.
Why global elites trust Switzerland with their children
This content was published on
When it comes to sending your kids to summer camp abroad, Switzerland is an obvious choice, at least for those who can afford to pay top dollar.
This content was published on
In an interview with the Tages Anzeiger newspaper, Ermotti said fractious trade policies and Brexit in Europe are weighing on his bank’s performance. “All you have to do is browse through the media each day to see where uncertainties are manifesting themselves.” Profits at Switzerland’s largest bank rose to CHF1.28 billion ($1.29 billion) in the second…
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.