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Swiss Watch Exports Continue to Slide
Jul 24, 2016 6:44 AM
By Rapaport News
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RAPAPORT... Swiss watch exports in June suffered their steepest decline this year as outbound shipments of precious-metal timepieces slumped and orders from Hong Kong dived.
Exports fell 16 percent to $1.66
billion (CHF 1.64 billion) with shipments of precious-metal watches sliding 31
percent to $497.5 million. All other categories saw a
decline, including steel, gold-steel and other metals.
Lower exports to Hong Kong,
Switzerland’s largest trade partner for watches, continued to weigh on overall
figures. Shipments to the municipality dived 29 percent to $187.9 million, reporting a steep downturn for the 17th consecutive month, while
orders from the U.S. declined 8.5 percent to $182 million.
Exports to Italy slumped 28 percent and shipments to Germany fell 15 percent.
The worst-performing price
category in June was the $203 (CHF 200) to $506 (CHF 500) range, which
plummeted 20 percent by value.
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Tags:
Rapaport News, Swiss watch exports, Swiss watch trade, Swiss watches, Switzerland, watches
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