March 23, 2020 / 8:25 AM / 17 days ago

Switzerland's current account surplus expands to $87 billion in 2019

ZURICH, March 23 (Reuters) - Switzerland widened its current account surplus to 86 billion Swiss francs ($87.15 billion) during 2019, the Swiss National Bank said on Monday, an increase of 29 billion francs from a year earlier.

The increase was mainly due to an increase in labour and investment income, the SNB said. The country’s surplus in goods trade also increased by 7 billion francs to 66 billion francs due to higher exports of goods.

During the fourth quarter, Switzerland ran a current account surplus of 26 billion francs, 11 billion francs more than the fourth quarter of 2018. This was due to a higher surplus in investment income and goods trade. ($1 = 0.9868 Swiss francs) (Reporting by John Revill Editing by Michelle Martin)

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