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Switzerland’s trade surplus widened to CHF 5.3 billion in March 2025 from CHF 4.3 billion in the previous month. This marked the largest trade surplus since October 2024, as exports rose more than imports. Exports increased by 12.6% from a month earlier to CHF 27.6 billion, mainly driven by higher sales of chemical and pharmaceutical products (22.6%). Among trading partners, exports rose the most to the U.S. (84.8%), Australia (30.6%), Mexico (14.3%), and Russia (13.8%). Meanwhile, imports grew by 10.4% to CHF 22.3 billion, primarily due to increased purchases of chemical and pharmaceutical products (29.4%) and paper and graphic products (12.4%). Imports came largely from Slovenia (73.5%), South Africa (54.8%), Spain (16.9%), and Italy (14.3%).