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Swiss Watch Exports Flat in August
Oct 9, 2013 2:56 PM
By Deena Taylor
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RAPAPORT... Swiss Watch exports remained flat year on year in August at $1.632 billion (CHF 1.486 billion), according to the Federation of the Swiss Watch Industry. The Federation noted that a reduction in shipments to China combined with one less business day during the month impacted the total number of timepieces exported.
Exports of wristwatches remained flat at $1.536 billion (CHF 1.399 billion) during the month, while the number of units shipped grew by 1 percent to 2.2 million. The value of other products rose by 9 percent to $96 million (CHF 87 million).
The Federation explained that exports to the Swiss watch industry’s three main markets recorded moderate declines in August, indicating a degree of stabilization. Exports to Hong Kong fell 3.2 percent to $329.2 million (CHF 299.7 million), while exports to China fell 4.7 percent to $122.4 million (CHF 111.5 million). Exports to the U.S. continued to slow on a gradual basis and declined by 1 percent to $154.5 million (CHF 140.6 million).
The volume of watches selling for less than $220 (CHF 200) rose more than 15 percent, while watches in the $220 to $549 range (CHF 200 to CHF 500) and $549 and $3,295 range (CHF 500 and CHF 3,000) declined slightly. Timepieces selling for more than $ 3,295 (CHF 3,000) rose by 1 percent.
During the first eight months of 2013, total Swiss watch exports rose by 1 percent to $15.109 billion (CHF 13.754 billion), representing consolidation at a high level for the sector, which continues to grow, albeit slowly. The number of wristwatch units sold was down by 5 percent to 17.9 million units.
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Tags:
Deena Taylor, Swiss watches, watch
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