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Swiss Watch Exports +5% in October
Nov 24, 2014 2:19 AM
By Avi Krawitz
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RAPAPORT... Swiss watch exports rose 5.2 percent year on year to $2.34 billion (CHF 2.27 billion) in October, representing a record level for a month, according to the Federation of Swiss Watches. Exports by volume rose 4.5 percent to 2.881 million units.
The federation explained that growth was driven by the lower and higher price segments. Exports of watches priced at less than $206 (CHF 200) increased 7 percent, while exports of timepieces priced above $3,092 (CHF 3,000) rose 8 percent. Exports of watches for the mid-market segment priced at between $206 and $3,092 (CHF 200 and CHF 3,000) declined by 2.6 percent.
The increase was supported by a 7.6 percent rise in the export of gold watches and an 8 percent increase in bimetallic watch exports. Steel timepieces grew 2.4 percent, below the average for the sector.
The federation noted that exports to approximately a quarter of the Swiss watch industry’s 30 largest markets declined during the quarter, including China and Germany. Swiss watch exports to the U.S. rose 22 percent to $276.7 million (CHF 268.4 million), accounting for about 12 percent of the total, while exports to Hong Kong, the Swiss watch sector’s largest market, increased 5 percent to $439.2 million (CHF 426.1 million).
During the first 10 months of the year, Swiss watch exports increased 3.1 percent to $19 billion (CHF 18.4 billion).
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Tags:
Avi Krawitz, diamonds, Federation of Swiss Watches, gold, Rapaport, Swiss watches
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