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Swiss Watch Exports Rise 3% to $2B in June
Jul 27, 2015 4:12 AM
By Ronen Shnidman
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RAPAPORT... Swiss watch exports increased 3 percent year on year in June to $2.02 billion (CHF 1.93 billion), according to the Federation of the Swiss Watch Industry. The group stated that a sharp increase in demand in European markets and healthy growth in the U.S. offset declining exports to Hong Kong and China. Exports of wristwatches rose 5 percent by volume to 1.8 million units.
The federation said that the most significant export increases were in wristwatches made from precious metals and those made from non-precious metals besides steel. Exports of precious metal wristwatches grew 6 percent to $735 million (CHF 711.3 million), despite a 6 percent drop volume to 43,700 units. Exports of wristwatches made from other metals increased 24 percent to $113 million (CHF 109.2 million) and rose 11 percent by volume to 286,500 units.
The increase in wristwatch exports occurred at both ends of the price spectrum. Exports for watches priced higher than $3,144 rose 5 percent by value during the month, despite the volume of units exported declining 1 percent. Meanwhile, exports of watches priced less than $210 rose 1 percent by value and 8 percent by volume. Exports of watches priced between $210 and were stable in value and volume terms.
Exports to Hong Kong, the leading export market for Swiss watches, fell 21 percent to $265 million (CHF 256.2 million). Exports to the U.S. rose 5 percent to $202 million (CHF 195.4 million). Exports to Italy increased 25 percent to $155 million (CHF 149.7 million).
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Tags:
Federation of the Swiss Watch Industry, Hong Kong, Ronen Shnidman, swiss watch, Swiss watch exports
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