Swiss exports to the eurozone dipped four percent in the first half of the year, according to federal customs figures. 

Exports to the biggest trading partner Germany stagnated, but there were big declines for shipments to southern European countries. 

By contrast, exports to North America jumped 10 percent, and exports to Latin America increased by nine percent.

The paper and graphic industry suffered the most in the half-year, seeing exports drop 19.5 percent.

The watch industry remained strong with the fifth consecutive half-year with double digit export growth, this time topping 16 percent.