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Swiss Watch Exports See First Drop in 18 Months

Shipments down 7% in September.
Oct 22, 2018 6:00 AM   By Rapaport News
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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
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