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Swiss Watch Exports Decline in November
Jan 21, 2014 2:00 AM
By Deena Taylor
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RAPAPORT... Swiss Watch exports fell 0.5 percent year on year to $2.8 billion (CHF 2.1 billion) in November, according to the Federation of the Swiss Watch Industry. The decline in exports was due to a decrease in the volume and value of gold and bi-metallic watches shipped.
Wristwatch exports fell 1.5 percent to $2.202 billion (CHF 2.042 billion), while the number of units shipped decreased by 4.5 percent to 2.676 million. The value of other products grew by 12 percent to $58.1 million (CHF 53.1 million).
The federation explained that exports to Hong Kong fell 6.5 percent to $433.5 million (CHF 396.1 million), while exports to the U.S. declined 2.5 percent to $233.7 million (CHF 213.5 million). Exports to China continued to lose ground and fell 27 percent to $138.5 million (CHF 126.6 million).
Most of the main price segments declined in November, except for watches in the $219 to $547 (CHF 200 to CHF 500) category, which rose by nearly 8 percent. The volume of watches selling for less than $219 (CHF 200) contracted 8 percent, while watches in the $547 to $3,283 (CHF 500 to CHF 3,000) range fell by 7 percent. The value of timepieces above $3,283 (CHF 3,000) remained stable but the number of watches exported from this price category decreased by 4 percent.
During the first 11 months of 2013, total Swiss watch exports rose by 1.7 percent to $21.864 billion (CHF 19.976 billion), while the number of wristwatch units sold fell 4.1 percent to 25.9 million units.
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Tags:
Deena Taylor, Federation of the Swiss Watch Industry, Swiss watches, timepieces, watches
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