Switzerland’s exports dropped in July, data from the Federal Customs Administration showed on Tuesday.

Exports dropped by real 1.8 percent on month in July, after a 2.5 percent rise in June. At the same time, imports dropped 0.5 percent following a 1.3 percent decline in June.

In nominal terms, exports declined 3.9 percent in July and imports fell 1.7 percent.

Consequently, the trade surplus fell to CHF 2.67 billion in July from CHF 3.17 billion in the previous month.

According to the Federation of the Swiss Watch Industry, watch exports rose 4.3 percent year-on-year in July following the downturn in June.

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