Swiss Exports to US See Sharp Decline

Swiss export industry faces significant setback as shipments to US market plummet by 39.6%, marking lowest level since late 2020

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Swiss exports to the US plummeted by 39.6% in May, reaching the lowest level since the end of 2020.
The overall Swiss export industry saw a seasonally adjusted decline of 13.6% in May.
The chemical-pharmaceutical industry, which constitutes over half of Swiss exports, experienced a 19% drop in its exports.
While exports to North America and Europe fell, exports to Asia saw a slight increase of 0.4%.
In March, Swiss exports to the US had doubled, reaching a record level before falling by a third in April.