RapNet


Rapaport News

 

Retail

 
Difusión Rapaport
Martin Rapaport’s Webinar on Estate Jewelry
October 30 2019

Búsqueda avanzada
Últimos artículos
Videos
Funciones
Noticias
Minas
Mercados en bruto
Mercados de pulidos
Fabricación
Minoristas

US, China Boost Swiss Watch Trade

Shipments to those markets outweigh significant drop in Hong Kong.
Nov 19, 2019 8:26 AM   By Rapaport News
Print Imprimir Facebook Facebook Twitter Twitter Compartir Share


RAPAPORT...
Swiss watch exports rose in October as increased orders from the US, China and Japan outweighed a significant drop in Hong Kong.

Shipments grew 1.5% year on year to CHF 2.03 billion ($2.04 billion).

“Overall growth was hindered by [a] very marked decline in Hong Kong, while the rest of the world generally saw an upturn,” the Federation of the Swiss Watch Industry said Tuesday. Unrest in the municipality has increasingly affected the market, with the impact on export growth totaling five percentage points during the month, the federation added.

Pro-democracy demonstrations in Hong Kong — one of the Swiss watch industry’s largest markets — have intensified since June, leading to a slowdown in tourism to the city, and denting luxury sales.

Exports to Hong Kong plunged 30% to CHF 191.3 million ($192.9 million), in contrast to 10% growth in October 2018. However, the decline was offset by an upswing in the US, which increased 10% to CHF 227.5 million ($229.4 million), and an 18% rise in supply to China to CHF 218.4 million ($220.3 million). Shipments to Japan climbed 11% to CHF 146.1 million ($147.4 million).

Timepieces worth more than CHF 3,000 ($3,025) were the only price category that saw an increase in shipments, going up 6% by value. Exports of watches between CHF 500 ($504) and CHF 3,000 slipped 3.3%, while those valued from CHF 200 ($202) to CHF 500 decreased 9%. Shipments of products priced under CHF 200 slid 5%.

When it comes to the material used for watches, bimetal timepieces showed the strongest export increase, with those made of gold and steel jumping 18%, while steel watches and those made of precious metal both fell 1.9%. Supply of timepieces made from other metals climbed 11% during the month.

Image: A Swiss-watch display in a store. (Shutterstock)
Etiquetas: Federation of the Swiss ‎Watch Industry, Rapaport News, swiss watch
Artículos similares
Comentarios: (0)  Add comment Agregar comentario
Organizar comentarios De último a primero



Llámenos: 1-702-893-9400
Member License Agreement   Reglamento y Código de Conducta de RapNet    Política de privacidad  
  
twitter twitter
Acerca de Rapaport
Anuncie con nosotros