News

Advanced Search

Swiss Watch Exports See First Drop in 18 Months

Oct 22, 2018 6:00 AM   By Rapaport News
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share


RAPAPORT...
 A shorter working month cut into shipments of Swiss watches, which fell in September for the first time in a year and a half, according to the nation’s timepiece trade group.

Exports slid 7% to CHF 1.65 billion ($1.66 billion), the Federation of the Swiss Watch Industry reported. Orders from Hong Kong, the Swiss trade’s largest market, dipped 3.5% to CHF 205.9 million ($206.7 million), while supply to the US slipped 3% to CHF 187.2 million ($187.9 million). Those declines outweighed a rise in shipments to China, which surged 17% to CHF 128.6 million ($129.1 million).

Outbound shipments of watches made of gold and steel strengthened in September, jumping 13% to CHF 274.9 million ($275.9 million). Supply of timepieces from precious metals experienced the sharpest drop, the organization noted, plunging 14% to CHF 498.1 million ($500 million), while shipments of steel watches decreased 9% to CHF 652.4 million ($654.9 million).

All price categories suffered, with exports of watches priced under CHF 200 ($201) falling 9% by value, as did those between CHF 200 and CHF 500 ($502). Timepieces in the CHF 500 to CHF 3,000 ($3,011) group slid 6%, while those worth over CHF 3,000 dropped 8% during the month.

September 2018 contained 19 business days, compared with 20 a year ago.

Image: Swiss watches in a shop window. (Torange.biz)
Tags: Federation of the Swiss ‎Watch Industry, Rapaport News, Swiss watch exports, Swiss watches
Similar Articles
PhillipsEx-Ivanka Trump CEO Joins Phillips
Mar 05, 2019
Phillips has hired Geoffrey Hess as a consultant for its watch department, to support the division’s collaborations,
BaselworldBaselworld Looks to Reduce Prices
Sep 12, 2018
Baselworld is proposing to lower prices for exhibitors and visitors in an attempt to reinvigorate the annual watch and
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2019 by Martin Rapaport. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are TradeMarks of Martin Rapaport.
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.