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Swiss Watch Exports -3% in June
Aug 21, 2013 6:21 AM
By Deena Taylor
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RAPAPORT... Swiss watch exports fell 3 percent year on year to $2.018 billion (CHF 1.854 billion) in June, according to the Federation of the Swiss Watch Industry. The decline was mainly attributed to a 12 percent drop in gold watch exports during the month.
Exports of wristwatches decreased by 2 percent to $1.914 billion (CHF 1.759 billion) during the month, while the number of units shipped fell 8 percent to 2.3 million. The federation noted that the total number of timepieces exported was influenced by exports in the categories of materials and metals which were distinctly weaker than gold. The value of other products dropped 15 percent to $112.2 million (CHF 103.1 million).
The federation explained that five of the six top markets for Swiss watch exports experienced a downward trend during the month. Exports to Hong Kong fell 15 percent to $373.6 million (CHF 343.2 million), while exports to France decreased by 17 percent to $120.8 million (CHF 111 million). Exports to the U.S. declined 3 percent to $205.7 million (CHF 189 million), exports to Italy fell 12 percent to $113.8 million (CHF 104.6 million) and exports to Germany dropped 6 percent to $115.2 million (CHF 105.8 million). After falling for six consecutive months, exports to China grew 11 percent to $135.4 million (CHF 124.4 million).
The volume of watches selling for less than $217 (CHF 200) fell 15 percent, while the price range of $217 to $544 (CHF 200 to CHF 500) was the only export segment that showed a positive trend, increasing by nearly 20 percent. Exports of watches priced between $544 and $3,265 (CHF 500 and CHF 3,000) declined by 3 percent. Watches selling for more than $3,265 (CHF 3,000) recorded their second monthly decline in more than three years and fell by 4 percent.
During the first half of 2013, total Swiss watch exports rose 0.8 percent to $11.1 billion (CHF 10.2 billion), with the number of wristwatch units sold down by 7 percent to 13.03 million units.
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Tags:
Deena Taylor, Federation of the Swiss Watch Industry, Swiss watches, watches
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