The Swiss watch industry recorded its steepest drop in June, the biggest it’s had since the beginning of the year. According to the Federation of the Swiss Watch Industry (FH), exports totalled 1.6 billion CHF ($2.2 billion Cdn.), 16.1 per cent less than in June 2015.
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Currency woes, increasing demand for smartwatches, and slower watch sales in China were some of the issues facing exhibitors and buyers alike at the 44th edition of Baselworld.
The eight-day fair opened under a haze of cautious optimism for a turnaround in consumer purchasing habits in the short term and greater demand for watches in traditionally strong markets.
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Swiss watch exports in October recorded its best month ever, thanks to continued recovery in the U.S. market.
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Swiss watch exports in November rose by 4.5 per cent, recording the highest ever monthly value of 2.2 billion CHF ($2.3 billion Cdn).
However, the Federation of the Swiss Watch Industry (FH) says the increase was below the annual average.
Exports of gold and steel watches led the way, while platinum and silver/gold-plated saw steep declines. By price category, exports of watches costing less than 200 CHF ($200 Cdn) fell by 2.3 per cent, while … Continue reading Swiss watch exports slow down
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Mid-year figures for Swiss watch exports exceeded the 10-billion CHF ($10.2-billion Cdn) mark, despite weaker demand in China and the ongoing euro zone crisis.
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Swiss watch manufacturers exported 1.3 billion CHF (1.4 billion Cdn.) in August, an increase of 16.4 per cent during the same period in 2010.
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Swiss watch exports grew 19.3 per cent in the first six months of 2011 with a value of 8.7 billion CHF ($102 billion Cdn), well past the 2008 benchmark.
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A significant rebound in the second half of 2009 helped the Swatch Group push past lower sales in the earlier part of the year, the company says.
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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.
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In spite of a record year for Swiss watch exports, a downward trend closed off 2008 and is continuing into 2009, says the Federation of the Swiss Watch Industry (FH).
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