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Swiss Watch Export Decline Eases

Jan 26, 2017 10:54 AM   By Rapaport News
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The pace of decline in Switzerland’s global watch exports slowed in December as Chinese orders grew and shipments to the U.S. recorded their best month of the year.

Total exports fell 4.6 percent to $1.66 billion (CHF 1.66 billion), one of the shallowest drops of the year, according to the Federation of the Swiss Watch Industry. The improvement came about even as the number of working days in December was one less than in 2015.

Shipments to China jumped 28 percent to $139.9 million (CHF 139.6 million) as a resurgence that started in the summer continued, while U.S. orders grew 11 percent to $179.5 million (CHF 179.1 million).

The global result was nonetheless dragged down by a 16 percent slump in exports to Hong Kong to $209.3 million (CHF 208.9 million). The slump was, however, less steep than Hong Kong’s 25 percent plunge during 2016.

Full-year total exports slumped 10 percent to $19.45 billion (CHF 19.41 billion). Exports to the U.S. slid 9 percent and Chinese orders slipped 3.3 percent.

Image: Newscast
Tags: China, Federation of the Swiss ‎Watch Industry, Hong Kong, Rapaport News, Swiss watch exports, Switzerland, u.s., watches
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