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Swiss Watch Exports -4% in May
Jul 17, 2013 3:57 AM
By Deena Taylor
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RAPAPORT... Swiss watch exports fell 3.9 percent year on year to $1.958 billion (CHF1.843 billion) in May, according to the Federation of the Swiss Watch Industry. The decline was mainly attributed to a 13.9 percent drop in gold watch exports during the month coupled with a double-digit decline to main export markets of Hong Kong, China and France.
Exports of wristwatches decreased by 3.8 percent to $1.905 billion (CHF 1.793 billion) during the month, while the number of units shipped fell 7.9 percent to 2.3 million. The value of other products dropped 5.3 percent to $109.5 million (CHF 103.1 million).
The federation explained that three of the six main markets for Swiss watch exports experienced a slowdown. Exports to Hong Kong were down by 16 percent to $364.9 million (CHF 343.5 million), while exports to China fell 19 percent to $125.5 million (CHF 118.2 million) and exports to France decreased by 15 percent to $112.1 million (CHF 105.5 million). Exports to the U.S. recorded a value comparable to that of May 2012 and decreased slightly by 0.9 percent to $208.2 million (CHF 196 million). Exports to Italy and Germany continued to grow but at a slower rate.
The volume of watches selling for less than $212 (CHF 200) fell 14 percent, while the price range of $212 to $531 (CHF 200 to CHF 500) was the only export price segment that showed a positive result and increased by nearly 20 percent. Goods priced between $531 and $3187 (CHF 500 and CHF 3,000) declined by 7 percent. Watches selling for more than $3,187 (CHF 3,000) recorded their first monthly decline in more than three years and fell by 4 percent.
During the first five months of the year, total Swiss watch exports grew by 1.7 percent to $9.451 billion (CHF 8.374 billion), with the number of wristwatch units sold down by 7.3 percent to 10.734 million units.
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Tags:
Deena Taylor, Federation of the Swiss Watch Industry, Swiss watches, watches
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