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Swiss Watch Exports Flat in March
Apr 27, 2014 5:31 AM
By Deena Taylor
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RAPAPORT... Swiss watch exports were flat year on year at $1.87 billion (CHF 1.65 billion) in March, according to the Federation of the Swiss Watch Industry.
Wristwatch exports dropped 1.1 percent to $1.75 billion (CHF1.544 billion), while the number of units shipped decreased by 3.8 percent to 2.1 million. The value of other products grew by 19 percent to $45.7 million (CHF 40.3 million).
The federation said that exports to Hong Kong rose 9.3 percent to $371.4 million (CHF 327.4 million), while exports to China decreased 1.7 percent to $126.3 million (CHF 111.3 million). Exports to the U.S. slumped 12 percent to $201.6 million (CHF 177.7 million). In contrast, exports to Japan continued to rise and grew 31.5 percent to $120.7 million (CHF 106.4 million) and exports to the United Arab Emirates rose 1.4 percent to $99.9 million (CHF 88.1 million).
Most price segments declined slightly in March. Wristwatches priced less than $225 (CHF 200) fell 10.5 percent by volume, while watches selling in the $225 to $570 (CHF 200 to CHF 500) range rose 23.3 percent. Watches in the $570 to $3,400 (CHF 500 to CHF 3,000) range dropped 4.4 percent by volume. Watches over $3,400 (CHF 3,000) rose 3.2 percent by volume but remained flat by value compared to March 2013.
During the first quarter of 2014, total Swiss watch exports rose by 4.5 percent to $5.61 billion (CHF 4.95 billion), providing a good start to the year for Swiss watchmakers. The number of wristwatch units sold rose 1.5 percent to 6.4 million units.
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Tags:
Deena Taylor, Federation of the Swiss Watch Industry, Swiss watches, watchers
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