Another Decline for Swiss Watch Exports
December 22, 24
(IDEX Online) - Swiss watches exports suffered another drop during November, down by 3.8 per cent as sales fell yet again in China and Hong Kong.
The US was the only one of the top 10 markets to post an increase during the month (up 4.7 per cent), according to the Federation of the Swiss Watch Industry Exports (FHS).
It said the downward trend continued, and exports in November remained in line with the average for the previous 10 months. Overall sales in October were down by a "moderate" 2.2 per cent.
Sales in Hong Kong were down 18.8 per cent (compared to 14.8 per cent in October) and down 27.0 per cent in China (compared to 38.8 per cent in October).
Japan, the UK, Singapore and the UAE all saw sales down. Some smaller markets did, however, achieve positive figures, including South Korea (+21.7 per cent), Spain (+33.5 per cent) and India (+59.7 per cent).