"Moderate Decline" for Swiss Watch Exports
November 26, 24
(IDEX Online) - Swiss watches exports fell again during October, but by a "moderate" 2.2 per cent, compared to September, when they were down by 12.4 per cent, year on year.
Sales were strong in the US and Japan, which between them account for over a quarter of all Swiss watch exports. But it was another dismal month for China and Hong Kong, according to the Federation of the Swiss Watch Industry Exports (FHS).
Foreign sales to the US increased by 11.3 per cent and to Japan by 20.4 per cent, but they were down 38.8 per cent in China and 14.8 per cent in Hong Kong.
By comparison, in September the US and Japan saw increases of 2 per cent and China suffered a 50 per cent drop.
The FHS described said there had been a "moderate decline in line with the annual average". Overall year-to-date exports are 2.6 per cent below 2023.