Switzerland's current account surplus totaled CHF12 billion in the fourth quarter, down from a surplus of CHF16.7 billion in the third quarter, a report by the Swiss National Bank said Tuesday.

In the fourth quarter, the surplus in the goods account decreased to CHF3.5 billion from CHF4 billion in the preceding quarter. The surplus in the services account declined to CHF9.8 billion from CHF 13.5 billion.

The deficit in the labor income amounted to CHF3.3 billion, same as in the third quarter. At the same time, the surplus in the investment income stood at CHF4.9 billion, down from CHF 5.2 billion in the previous quarter.

The deficit in the current transfers account widened to CHF3 billion from CHF2.7 billion in the third quarter. However, the deficit in the capital transfers account remained unchanged from the third quarter, at CHF0.6 billion.

Meanwhile, the financial account showed a surplus of CHF0.7 billion in the fourth quarter, in contrast to a deficit of CHF34.5 billion in the third quarter.

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