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Swiss Watch Exports +2% in July
Sep 3, 2014 8:12 AM
By Deena Taylor
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RAPAPORT... Swiss watch exports rose 2.2 percent year on year to $2.27 billion (CHF 2.084 billion) in July, according to the Federation of the Swiss Watch Industry. Growth was buoyed by strong demand for bimetallic and platinum watches.
Wristwatch exports rose 0.8 percent to $2.123 billion (CHF1.949 billion), while the number of units shipped grew by 2.1 percent to 2.772 million. The value of other timepiece exports grew 28 percent to $146.8 million (CHF 134.8 million).
The federation noted that across the top export markets, several downturns were offset by gains elsewhere. Exports to Hong Kong fell 1.8 percent to $408.3 million (CHF 374.8 million), while exports to the U.S. dropped 0.8 percent to $217 million (CHF 199.2 million). Following a long contraction, exports to China experienced an upsurge of 49 percent to $184.1 million (CHF 169 million). Exports to Japan continued to show strong growth and increased 19 percent to $141.8 million (CHF 130.2 million). Exports to Italy fell 6.7 percent to $138.4 million (CHF 127 million). Meanwhile, exports to Germany lost ground and fell 6.9 percent to $114.3 million (CHF 113.8 million). The federation noted that exports to the U.K. grew 8.8 percent, while exports to Spain rose 15.4 percent, showing marked improvements.
Exports for wristwatches priced less than $217 (CHF 200) rose 1.3 percent in value terms and grew 4 percent by volume, while watches selling in the $217 to $544 (CHF 200 to CHF 500) range fell 1.3 percent by value and by 4.9 percent for volume. Exported watches in the $544 to $3,268 (CHF 500 to CHF 3,000) range rose 0.3 percent by value, and declined 0.3 percent by volume. Watches priced over $3,268(CHF 3,000) rose 0.8 percent by value and by 2.1 percent by volume.
During the first seven months of 2014, total Swiss watch exports rose by 3 percent to $13.758 billion (CHF 12.629 billion). The number of wristwatch units sold rose 1 percent to 15.851 million units.
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Tags:
Deena Taylor, Federation of the Swiss Watch Industry, Swiss watches
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