Swiss exports and imports declined in the first quarter of the year. The chemical and pharmaceutical sectors and exports to the United States were hardest hit. +Get the most important news from Switzerland in your inbox Exports fell by 4.2% in the first three months of the year compared to the previous quarter, reaching CHF66.94 billion, according to the Federal Office for Customs and Border Security. This is the lowest level since autumn 2021. A slight recovery was evident in March. Seasonally adjusted exports rose by 1% to CHF22.36 billion, after a significant decline in February. Adjusted for inflation exports declined in real terms by 3.4% in March. The overall picture remains decidedly negative throughout the quarter. Eight of the ten most important product groups recorded declining exports. Chemical and pharmaceutical products were particularly hard hit, falling by 8.1%. This marks the fourth consecutive year of decline for the sector. Bucking the trend, some sectors …