Switzerland’s trade surplus widened to CHF 8.73 billion in July from a revised CHF 5.22 billion in June, according to the Federal Customs Administration. Exports increased 6.4% month-on-month to CHF 24.4 billion, driven mainly by strong demand for chemical and pharmaceutical products, while imports declined 1.2% to CHF 15.7 billion. Shipments to the European Union rose 5.8%, with exports to the United States and Asia also gaining. Watch exports increased 4.2% in value, while lower imports of automobiles and machinery contributed to the overall decline. The stronger surplus signals resilient external demand for Swiss high-value goods, supports the export sector’s contribution to GDP, employment and investment, and may add upward pressure on the Swiss franc. The Swiss National Bank monitors such developments when assessing monetary policy and potential exchange-rate interventions, although the surplus could narrow if global demand weakens or the franc strengthens.