Switzerland January trade balance CHF 4.74 billion vs CHF 1.25 billion

• Prior CHF 1.25 billion; revised to CHF 1.27 billion

The Swiss trade surplus expanded to start the year as exports were seen up a whopping 21.3% while imports only grew by 3.1% on the month. Swiss watch exports were seen up 3.1% year-on-year to CHF 1.92 billion.