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Swiss Watch Exports Sharply Lower in July
Aug 20, 2015 5:29 AM
By Rapaport News
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RAPAPORT... July was not a good month for the Swiss watch industry with exports 9.3% lower than in July 2014 at CHF1.9 billion ($1.95 billion), according to the Federation of the Swiss Watch Industry. Asian markets all reported sluggish sales and weighed heavily on this result. Overall, sales in Asia were down by 21.4%.
Source: Federation of the Swiss Watch Industry
All the price segments were down in July. Watches costing less than 200 francs (export price) suffered the least with volumes down by just 2.0% (but -8.1% in value). The 200-500 francs category was the worst affected (-14.5%). Above 500 francs, the value fell by 8.0% overall and the number of pieces by 10%.
Source: Federation of the Swiss Watch Industry
The leading Asian markets were all down, some very steeply. The fall in China was particularly strong (-39.6%), along with the United Arab Emirates (-29.8%) and South Korea (-19.7%). Sales to the U.S. were stable. Exports to Europe showed some improvement.
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Tags:
exports, Rapaport News, Swiss watches
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