Advanced Search

Lower-Value Swiss Watches Dent Exports

Sep 25, 2018 7:48 AM   By Rapaport News
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share

RAPAPORT... Swiss watch exports grew at a slower pace in August due to a drop in demand for lower-value timepieces.

Total shipments rose 6% to CHF 1.5 billion ($1.55 billion), the Federation of the Swiss Watch Industry reported. Exports of watches priced over CHF 3,000 ($3,103) increased 7% by value, and those worth between CHF 500 ($517) and CHF 3,000 grew 8%. Timepieces valued at CHF 200 ($207) to CHF 500 fell 7%, while those priced under CHF 200 dropped 14% during the month.

Orders from Hong Kong, the Swiss trade’s largest market, jumped 15% to CHF 189.1 million ($195.7 million), while supply to the US climbed 9% to CHF 153.6 million ($158.9 million). Exports to China also rose, surging 19% to CHF 128.4 million ($132.9 million).

Shipments of precious-metal and bimetal watches were the most popular in August, with higher-than-average growth, the federation said. Exports of timepieces comprising precious metals increased 8% to CHF 461.9 million ($477.9 million), while those made of gold and steel went up 8% to CHF 261.1 million ($270.1 million).

Global Swiss watch exports rose 10% to CHF 13.8 billion ($14.28 billion) in the first eight months of 2018, the federation added.

Image: Swiss Watches (Creative Lab/Shutterstock)
Tags: Federation of the Swiss ‎Watch Industry, Rapaport News, Swiss watches
Similar Articles
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2020 by Rapaport USA Inc. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are registered TradeMarks.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.