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Swiss Watch Exports to Hong Kong Fall for 12 Straight Months

Feb 18, 2016 7:10 AM   By Rapaport News
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RAPAPORT... Swiss watch exports continued to decline in January as shipment numbers to Hong Kong and the U.S., the industry’s largest trade partners, showed little sign of improving.

Total exports fell 7.9 percent year on year to $1.53 billion (CHF 1.52 billion) during the month, with shipments of wrist watches down 8.1 percent to $1.44 billion, according to figures published by the Federation of the Swiss Watch Industry February 18.

Shipments to Hong Kong tumbled 33 percent to $207.6 million in January, its 12th consecutive month of steep decline. Exports to the U.S. fell 14 percent to $159.8 million, dropping for the fifth consecutive month.

Exports to China, the next biggest market, slipped 1.9 percent, but Japan (+36 percent), Germany (+7.9 percent) and the U.K. (+10 percent) bucked this downward trend.

All major categories of watches fell in value and volume terms during the month. The largest dip in value was in the gold-steel catgory, which dropped 11 percent. Exports of steel watches declined 10 percent. In volume terms, precious-metal watch shipments fell 14 percent and steel watches dropped 9 percent.

Each of the main price segments recorded declines. The steepest was in the $202 to $504 (CHF 200 to 500) range, which fell 12 percent in value. Watches costing $504 to $3,027 (CHF 3,000) dipped 9 percent. By volume, the steepest fall was in the least expensive category of up to $202.
Tags: exports, Rapaport News, Swiss watches, Switzerland, watches
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