Switzerland’s current account surplus widened sharply to CHF 19.4 billion in the first quarter of 2025, from CHF 9.4 billion in the same period of the previous year. This marked the largest current account surplus since the third quarter of 2022. The goods account surplus rose to CHF 37 billion from CHF 25.1 billion, while the primary income deficit narrowed slightly to CHF 75.1 billion from CHF 76.3 billion. Meanwhile, the services account shortfall widened to CHF 77.1 billion from CHF 59.7 billion a year earlier, and the secondary income deficit also increased to CHF 24.2 billion from CHF 21.6 billion.
