Pandemic leads to historic drop in Swiss foreign trade

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(The Swiss Info)

Exports and imports declined by CHF40 billion ($45 billion) in 2020 due to the Covid-19 pandemic, setting foreign trade levels back by three years.

According to the annual foreign trade statistics released on Thursday, Switzerland experienced a historic decline in both exports (-7.1% to CHF225.1 billion) and imports (-11.2% to CHF182.1 billion) in 2020. The second quarter saw trading activity plummet at an unprecedented pace.

This was the biggest annual drop in trade since 2009, sending Switzerland back to 2017 levels.

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