GENEVA, Dec. 12 (Xinhua) -- A latest economic forecast by the Swiss Federal Government's Expert Group said that the country's exports of goods will see much weaker development in 2020 than in the previous years.
In a media statement issued by the Swiss Federal Government on Thursday, the Group forecasted that a further deterioration in terms of both international trade policy and UK/EU(European Union) relations cannot be ruled out.
"In particular, the Swiss economy would be negatively affected in the forecast horizon if the U.S. were to impose punitive tariffs on more European goods in the coming year and if growth in the EU were to be slowed sharply following a disorderly Brexit," the statement said.
It added that in 2020, the underlying momentum of the country's economy is set to be similar to this year, before increasing somewhat in 2021.
According the forecast, global trade is expected to pick up a little in 2021 in the wake of a slight increase in global economic growth, which will also benefit Swiss exports and enable investment in equipment to recover.
