Swiss tech industry bounces back, but remains fragile

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Swiss tech industry bounces back, but remains fragile

The year got off to a good start for Switzerland’s technology industry, with a sharp rebound in new orders and growth in both sales and exports. +Get the most important news from Switzerland in your inbox However, this trend is based on “fragile” foundations, and the risks are mounting, warns industry umbrella group Swissmem. From January to March, new orders rose by 10.1% year-on-year, the association of companies in the machinery, electrical equipment, metals and related technology sectors reported. Revenues rose by 3.4% and exports by 1.1%. In detail, by market, the European Union was a driving force, with export growth of 3.9%, while Asia (-4.5%) and the United States (-4.2%) experienced a marked decline. By commodity group, exports of measuring, control and precision instruments (-4.4%) and machinery, mechanical appliances and equipment (-3.9%) declined. Conversely, foreign deliveries of rail, road and air vehicles (+28.4%) soared, thanks to a number of major orders. Exports …

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