The Swiss National Bank reported a CHF 24 billion current account surplus for the second quarter of 2026, up CHF 13 billion from the relatively low surplus recorded a year earlier. The increase primarily reflected a significantly higher merchanting balance and a less negative balance from nonmonetary gold trading, while services and primary and secondary income changed only marginally. The financial account recorded net reductions of CHF 6 billion in assets and CHF 12 billion in liabilities, resulting in a CHF 7 billion balance including derivatives. Resident investors sold foreign securities, particularly shares, while foreign controlled enterprises reduced balance sheets and withdrew equity from subsidiaries. Switzerland’s net international investment position rose CHF 22 billion from the previous quarter to CHF 986 billion, as stock market gains increased assets to CHF 5.564 trillion and liabilities to CHF 4.578 trillion. The data incorporate revisions extending back to 2023, reflecting new information from underlying statistics and reporting institutions.
2026-09-22Swiss National Bank
Swiss National Bank reports CHF 24 billion current account surplus and CHF 986 billion net international investment position in Q2 2026
The Swiss National Bank reported a CHF 24 billion current account surplus for Q2 2026, up CHF 13 billion from a year earlier, mainly due to stronger goods trade. The net international investment position increased CHF 22 billion from the previous quarter to CHF 986 billion, largely as stock market gains lifted both assets and liabilities. The figures include revisions dating back to 2023.