August Swiss watch exports fall

by eyetee | October 5, 2009 12:00 am

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Swiss watch sales decreased by 22 per cent in August compared to the same time last year, despite a significant increase in exports to China.

According to the Federation of the Swiss Watch Industry, the decline is below the equivalent figure for 2006. Aggregate exports from January to August equalled CHF 8.1 billion ($7.87 billion US), 25.9 per cent lower than the same period in 2008.

While August is traditionally a slow month for Swiss watch exports, the industry saw 590,000 fewer watches exported than a year earlier, bringing that number to 1.1 million.

Watches in the CHF 200 to 500 ($195 to $490 US) range at export price fared better overall, declining only 15 per cent. Watches costing less than CHF 200 plummeted by 40 per cent.

Hong Kong and the United States imported 25.5 and 37.1 per cent less watches, respectively, while China saw a 20 per cent increase and Singapore a rise of 9.6 per cent.

Source URL: https://www.jewellerybusiness.com/news/august-swiss-watch-exports-fall/