MOSCOW (Sputnik), Yulia Shamporova – On Tuesday, the Swiss Federal Customs Administration announced that the country’s exports had fallen by 5.2 percent to 49.2 billion francs ($50.7 billion) in the third quarter of this year when compared to the same period in 2014.
"The Swiss franc is slightly overrated, while the euro is weak. Therefore, our exports are presently less profitable. However, our economy is used to adapting to the ups and downs due to currencies evaluation," Helg stated.
Among the sectors of the economy most negatively affected by the currency valuation were the machinery, electronics, paper and graphic arts industries, each experiencing a 9-percent decline in exports, according to the Swiss customs authorities.
In particular, Swiss watch exports, traditionally stable, suffered their biggest quarterly decline in the third quarter of 2015 in six years, according to the Federation of the Swiss Watch Industry.
