|
|
Swiss Watch Exports +1% in May
Jul 3, 2014 5:54 AM
By Deena Taylor
|
|
|
RAPAPORT... Swiss watch exports rose 1.2 percent year on year to $2.1 billion (CHF 1.87 billion) in May, according to the Federation of the Swiss Watch Industry. Growth was spurred by stronger demand of precious metals watches.
Wristwatch exports rose 2 percent to $1.99 billion (CHF1.77 billion), while the number of units shipped decreased by 5 percent to 2.1 million. The value of other products declined by 10 percent to $44 million (CHF 39.1 million).
The federation noted that exports to Hong Kong recorded a slight downturn in value and fell 0.8 percent to $383.5 million (CHF 341.1 million), while exports to the U.S. increased 3 percent to $228 million (CHF 203 million).
Japan recorded the highest increase, with exports rising 10 percent to $122.9 million (CHF 109.3 million). Exports to Italy were up 0.9 percent to $ 140 million (CHF 124.5 million) and exports to France grew 3 percent to $124.5 million (CHF 110.7 million). Meanwhile, China recorded a slight downturn and fell 1 percent to $131.2 million (CHF 116.7 million).
Wristwatches priced less than $225 (CHF 200) fell 4 percent by value and by 7 percent by volume, while watches selling in the $225 to $562 (CHF 200 to CHF 500) range declined 1.7 percent by value and by 4.4 percent by volume, which was the category's first decline in a year. Watches in the $562 to $3,372 (CHF 500 to CHF 3,000) range showed mixed results and dropped 2.3 percent by value, rising 2.6 percent by volume. Watches priced over $3,372 (CHF 3,000) rose 3.6 percent by value and by 5.5 percent by volume.
During the first five months of 2014, total Swiss watch exports rose by 3.3 percent to $9.739 billion (CHF 8.663 billion). The number of wristwatch units sold remained flat at 10.7 million units.
|
|
|
|
|
|
|
|
|
|
Tags:
Deena Taylor, Federation of the Swiss Watch Industry, Swiss watches, watches
|
|
|
|
|
|
|
|
|
|
|
|
|