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Swiss Watch Exports +1% in June
Jul 24, 2014 4:11 AM
By Deena Taylor
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RAPAPORT... Swiss watch exports rose 1.4 percent year on year to $2.065 billion (CHF 1.863 billion) in June, according to the Federation of the Swiss Watch Industry. Growth was spurred by stronger demand for precious metal watches.
Wristwatch exports rose 1.2 percent to $1.952 billion (CHF1.761 billion), while the number of units shipped grew by 4.8 percent. The value of other products increased by 9.2 percent to $50.6 million (CHF 45.6 million).
The federation noted that half of the 30 main export markets registered downturns during the month, even though positive trends took precedence overall. Exports to Hong Kong fell 2.2 percent to $359.8 million (CHF 324.5 million), while exports to the U.S. dropped 0.5 percent to $206.3 million (CHF 186 million).
Exports to Italy were up 14.5 percent to $132.8 million (CHF 119.8 million) reversing the marked downward trend of the past year, while exports to Japan continued to show strong growth and increased 20.4 percent to $130.6 million (CHF 117.8 million). Exports to China fell 6.8 percent to $128.5 million (CHF 115.9 million). Meanwhile, exports to Germany recorded a slight downturn and fell 1 percent to $114.3 million (CHF 103.1 million). The Federation noted that exports to France recorded its steepest decline in the past nine months.
Exports for wristwatches priced less than $222 (CHF 200) fell 3 percent in value terms but grew 7 percent by volume, while watches selling in the $222 to $554 (CHF 200 to CHF 500) range grew 2.5 percent by value and by 3.4 percent for volume. Exported watches in the $554 to $3,326 (CHF 500 to CHF 3,000) range rose 0.3 percent by value, and 3.4 percent by volume. Watches priced over $3,326 (CHF 3,000) rose 1.2 percent by value and by 4.8 percent by volume.
During the first half of 2014, total Swiss watch exports rose by 3 percent to $11.678 billion (CHF 10.532 billion). The number of wristwatch units sold rose 0.8 percent to 13.128 million units.
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Tags:
Deena Taylor, Federation of the Swiss Watch Industry, swiss watch
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