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Swiss Watch Exports +2% in July

Aug 26, 2013 6:31 AM   By Deena Taylor
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RAPAPORT... Swiss watch exports rose 2 percent year on year to $2.187 billion (CHF 2.020 billion) in July, according to the Federation of the Swiss ‎Watch Industry.‎ The increase was mainly attributed to a 4 percent improvement in steel watch exports as well as a 13 percent surge in exports of watches made from other metals. The federation noted that the month of July was the fourth best month for watch exports on record as the CHF 2 billion ($2.165 billion) mark has never been reached so early in the fiscal year.

Exports of wristwatches rose by 2 percent to $2.072 billion (CHF 1.914 billion) during the ‎month, while the number of units shipped grew by 4 percent to 2.7 million. The federation noted that the total number of timepieces exported was influenced by exports of the categories of materials and metals other than gold watches, which experienced a sharp decline in the past months. The value of other products rose by 43 percent to $67.4 million (CHF 62.3 million).‎

The federation explained that the recent slowdown of exports to Hong Kong was less noticeable in July and fell slightly by only 0.9 percent to $395.6 million (CHF 365.3 million), achieving an identical level to that of 2012. Exports to Italy increased by 10 percent to $147.4 million (CHF 36.2 million). Exports to the U.S. rose by 0.6 percent to $216.2 million (CHF 199.7 million), while exports to Germany rose by 13 percent to $133 million (CHF 123 million). Exports to France recorded a significant decline and fell 18 percent to $129.1 million (CHF 119.2 million). After recovering in June, exports to China repeated a downward trend and fell by 10 percent to $122.7 million (CHF 113.3 million).

The volume of watches selling for less than $217 (CHF 200) fell 0.8 percent, while the $217 to $541 (‎CHF 200 to CHF 500) price range increased by 20 percent. Goods priced between $541 and $3249 (CHF 500 and CHF 3,000) rose slightly, while watches selling for more than $3249 (CHF 3,000) declined by 0.6 percent.‎

During the first seven months of 2013, total Swiss watch exports rose by 1 percent to $13.281 billion (CHF 12.265 billion) with the number of wristwatch units sold falling by 6 percent to 15.7 million units.
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Tags: Deena Taylor, Federation of the Swiss ‎Watch Industry, Swiss watches
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