(MENAFN- Kuwait News Agency (KUNA)) GENEVA, July 21 (KUNA) -- Switzerland's exports recorded a historic drop due to the COVID-19 pandemic, according to the Swiss Federal Customs Administration (FCA).
The exports field lost no less than USD 50 billion during the second quarter (Q2) 2020, compared to Q1 for the same year, the FCA said in a statement on Tuesday.
The most affected sector was watches and jewelry, dropping 70.2 percent, it said. Moreover, mining and electronics industries dropped between 18 to 13 percent, a total of about USD 2.2 billion.
Meanwhile, FCA noted that chemicals and drugs exports dropped 3.8 percent, about USD 1.2 billion. It added that the drop in exports also affected Switzerland's main partners in North America, Asia and Europe between 14.7 and 19 percent.
In the same context, Switzerland's imports of jewelry and precious metals dropped 80 percent and 44 percent in car imports. Also, clothing and shoes imports also dropped USD 3.2 billion, it said. (end)
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