RapNet


Rapaport News

 

Polished Markets

 
Rapaport 宣传
Rapaport’s ‘State of the Diamond Industry’ Address
June 08 2020

高级搜索
最新文章
视频
功能
新闻
挖掘
原石市场
抛光市场
制造
零售

Swiss Watch Exports Down 81% in April

Shipments fall 81% during the month as production, distribution and retail shut down.
May 26, 2020 5:10 AM   By Rapaport News
Print 打印 Facebook Facebook Twitter Twitter 共享 Share


RAPAPORT... Swiss watch exports plunged in April as coronavirus lockdowns brought the entire supply chain to a near halt.

“Swiss watch exports were extremely low in April as a direct result of the standstill in production, distribution and sales, causing them to collapse,” the Federation of the Swiss Watch Industry reported Tuesday.

Shipments slid 81% to CHF 328.8 million ($339.1 million) for the month, with nearly all markets declining significantly. Orders from Hong Kong plummeted 83% to CHF 42.2 million ($43.5 million), while supply to the US dropped 86% to CHF 27.9 million ($28.8 million). Exports to Japan fell 86% to CHF 19.5 million ($20.1 million).

The decline in China was more mild, slipping 16% to CHF 110.3 million ($113.7 million), and accounting for one-third of total Swiss watch exports in April, as the economy began to recover. However that compares with an increase of 11% to CHF 155.9 million ($160.6 million) in March. In February, shipments to China fell 52% due to the coronavirus.

All price categories “contracted sharply,” as exports of timepieces valued between CHF 500 ($516) to CHF 3,000 ($3,095) declined 72% by value. Watches worth more than CHF 3,000 dropped 86%.

Shipments of timepieces made from precious metal decreased 82% to CHF 102.4 million ($105.6 million). Supply of gold and steel watches saw the steepest decline, tumbling 90% to CHF 28.4 million ($29.3 million).

Image: A display of Swiss watches in a store window. (Shutterstock)
Tags: Federation of the Swiss ‎Watch Industry, Rapaport News, Swiss watch exports, Swiss watches
Similar Articles
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First



电洽: 1-702-893-9400
Member License Agreement   RapNet Trading Rules & Code of Conduct    私隐政策  
  
twitter twitter
关于 Rapaport
广告业务