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Swiss Watch Exports Flat in August
Sep 28, 2014 8:17 AM
By Deena Taylor
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RAPAPORT... Swiss watch exports remained flat year on year at $1.569 billion (CHF 1.493 billion) in August, according to the Federation of the Swiss Watch Industry. The federation noted that August is one of the weakest months of the year for watch exports.
Wristwatch exports rose 0.6 percent to $1.488 billion (CHF1.416 billion), while the number of units shipped fell by 0.1 percent to 2.180 million. The value of other timepiece exports grew 0.2 percent to $40.7 million (CHF 38.7 million).
The federation explained that across the top export markets, several downturns were offset by gains elsewhere. Exports to Hong Kong declined for the fourth month in a row and fell 8 percent to $288.5 million (CHF 274.5 million), while exports to the U.S. grew 7 percent to $157.9 million (CHF 150.3 million). Exports to China continued to recover and rose 16 percent to $138.8 million (CHF 132.1 million). Exports to Japan increased 17 percent to $96.8 million (CHF 92.1 million). Meanwhile, exports to Germany fell 16 percent to $85.7 million (CHF 81.5 million), while exports to France grew 11 percent to $82.9 million (CHF 78.9 million).
Exports for wristwatches priced between $210 to $525, (CHF 200 to CHF 500) rose 8 percent by value and 7 percent by volume and was the only price segment to post a stronger gain compared to the same period one year ago.
During the first eight months of 2014, total Swiss watch exports rose by 2.7 percent to $14.854 billion (CHF 14.133 billion). The number of wristwatch units sold rose 1 percent to 18.038 million units.
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Tags:
Deena Taylor, Federation of the Swiss Watche Industry, Swiss watches, watches
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