Increased activity by Switzerland'sbanks pushed net capital exports to a provisional 11.7 billion
francs last year from 10.0 billion in 1985, the National Bank
said in a pre-publication copy of its annual report.
    It also said the current account surplus of the Swiss
balance of payments reached a provisional 13.5 billion francs
last year, from 12.8 billion in 1985.
    The National Bank's currency reserves rose by 1.8 billion
francs, against a 2.8 billion rise in 1985. However, taking
into accounts effects of the shift in exchange rates, reserves
actually fell in value by 1.9 billion.
    The banks' net capital exports climbed to 5.4 billion
francs, from 5.1 billion in 1985, while capital exports by
domestic non-banks fell to 5.0 billion from 9.1 billion.
    The National Bank gave the following figures (1985 in
brackets)
    Current Account +13.5 billion (+12.8 in 1985), made up of:
    Goods                     -7.1 (-8.7)
    Services                  +10.1 (+9.8)
    Factor Income             +12.5 (+13.7)
    Transfers                 -2.0 (-2.0)
 Capital Account -11.7 billion (-10.0 in 1985) made up of
    Direct Investment                          N/A  (-6.3)
    Portfolio Investment                       N/A  (-2.8)
    Capital Traffic of Banks                  -10.4 (-14.2)
    Other Capital Traffic Included             N/A  (+5.6)
    Traffic not Included and Statistical Error N/A  (+7.7)
    Change in Currency Reserves of the National Bank +1.8
(+2.8)
    Interest Income on Foreign Currency        +2.4 (+3.4)
    Foreign Currency Transactions              -0.6 (-0.6)
 REUTER
