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Swiss Watch Exports +2% in April
Jun 11, 2014 8:08 AM
By Deena Taylor
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RAPAPORT... Swiss watch exports rose 1.7 percent year on year to $2 billion (CHF 1.834 billion) in April, maintaining a positive trend according to the Federation of the Swiss Watch Industry. The increase was spurred by steel watch sales coupled with strong demand from Hong Kong, the U.S. and Japan.
Wristwatch exports rose 2 percent to $1.9 billion (CHF1.737 billion), while the number of units shipped decreased by 0.3 percent to 2.1 million. The value of other products declined by 1.3 percent to $107.3 million (CHF 96.4 million).
The federation noted that exports to Hong Kong recorded strong growth and rose 9.3 percent to $412.1 million (CHF 370.4 million), while exports to the U.S. continued on a trajectory of moderate growth and increased 2 percent to $204.3 million (CHF 183.6 million).
Japan recorded the highest increase and rose 34 percent to $139.5 million (CHF 125.4 million). Exports to the main European markets showed mixed results. Exports to Italy were up 2.8 percent to $116.1 million (CHF 104.3 million), exports to Germany rose 0.6 percent to $114.6 million (CHF 103 million) and exports to France declined 8 percent to $106.1 million (CHF 95.4 million). Meanwhile, China recorded a sharp downturn and slumped 16.5 percent, consigning the country to eighth place during April.
Wristwatches priced less than $222 (CHF 200) fell 9.1 percent by value but showed no change in volume terms, while watches selling in the $222 to $556 (CHF 200 to CHF 500) range declined by 0.9 percent. Watches in the $556 to $3,338 (CHF 500 to CHF 3,000) range dropped 1 percent by volume. Watches over $3,338 (CHF 3,000) rose 4.4 percent by volume and by 3.5 percent by value compared to April 2013.
During the first four months of 2014, total Swiss watch exports rose by 3.8 percent to $7.55 billion (CHF 6.787 billion). The number of wristwatch units sold rose 1.1 percent to 8.5 million units.
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Tags:
Deena Taylor, Federation of the Swiss Watch Industry, Swiss watches, watches
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