The current balance in the fourth quarter with 15 billion Swiss francs, around two billion Swiss francs higher than in the prior-year quarter. He was the sum of all the revenues of 156 billion less the sum of all expenditure out of 141 billion.
The increase was due primarily to the larger revenue surplus in investment income and lower net surplus in the secondary income (current Transfers), as the Swiss national Bank (SNB) announced on Monday. A lower surplus in trade in goods have counteracted this development.
In the capital and financial account showed transactions in 4. Quarter of 2018, a net acquisition of financial Assets of nine billion Swiss francs and a net reduction of Liabilities by twelve billion. On the assets side, the largest transactions were accounted for by “Other investment” (net access) and portfolio investment (net removal). On the liabilities side of direct investment for the net removal.
Massive claims payments made abroad by 2017
Overall, the capital account showed a positive balance of 21 billion Swiss francs. The holdings in foreign assets fell 4. Quarter of 2018 compared to the previous quarter, both on the asset and on the liability side. The decrease was a result of the sharp decline in prices on the foreign exchanges. The decrease would have been even higher, had statistical Changes – as a result of newly available information from the reporting is not subject to mitigated this effect considerably. On the liabilities side, the stock declined by 79 billion to 3’901 billion.
The current-account surplus was more than in the entire previous year CHF 71 billion and 26 billion higher than in the previous year. In goods trade, the surplus rose from seven to 57 billion Swiss francs. This was mainly due to higher revenue in the transit trade. The receipts surplus from trade in services rose by two to 20 billion Swiss francs. In the case of the secondary income (current Transfers) decreased net Expenditure of four to nine billion Swiss francs. 2017 had been exceptionally high claims payments of reinsurance abroad recorded.
In the current account captures all revenue and expenditure of an economy, where in addition to the pure trade in goods, trade in services (tourism, etc.), labour income and investment income, and current Transfers are counted. The decline in the secondary income is typical for Switzerland and explain, especially with money transfers from foreign persons in their home countries. (Dec/sda)
Created: 25.03.2019, 11:03 PM
