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Weaker High End Weighs on Swiss Watch Exports
May 29, 2016 7:05 AM
By Rapaport News
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RAPAPORT... Swiss watch exports fell in April with significantly fewer
higher-end and precious-metal timepieces shipped out of the country.
Total shipments slid 11 percent year on year to $1.63
billion (CHF 1.62 billion) during the month. Exports of wrist watches dropped
9.6 percent to $1.53 billion with the volume of units down 8 percent to 2 million.
Exports of other timepieces dived 29 percent to $96.5 million, according to data
provided by the Federation of the Swiss Watch Industry.
Shipments of watches with an export price of more than
$3,016 (CHF 3,000) slumped 13 percent, driving the overall downturn, the
federation said. Exports of timepieces made from precious metal fell 14 percent
and gold-steel watch shipments slid 13 percent.
In the first four months of the year, total Swiss watch
exports fell 9.5 percent, weighed by lower exports to Hong Kong, where exports
fell for the 15th consecutive month in April. Orders from China plummeted 36
percent in April.
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Tags:
exports, Hong Kong, Rapaport News, Swiss watch exports, Swiss watch trade, Swiss watches, Switzerland, watches
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