China Shows Glimmer of Hope for Swiss Watch Exports

by swisscham in Hospitality, Retail, Tourism

The Swiss watch industryÕs value of exports declined by 5.6% to just under CHF 1.9 billion, or USD 1.8 billion at current exchange rates, for the month of November. The Federation of the Swiss Watch Industry noted that the decline of exports, a trend that has continued for nearly two years, ÒsoftenedÓ in November, but the sector is still struggling. In addition to waning interest, the decline in value is being linked to precious metal watches. In its November statistics report, the Federation of the Swiss Watch Industry shared that the rises and falls of the main price segments alternated for the month. But, falls were more dominate. Sales of watches with an export price of between 200 and 500 Swiss francs, or USD 195 to USD 487, and those priced more than CHF 3,000, or USD 2,926, were lower. Other segments, however, posted small gains. Main markets were also down for November, but approximately half of the 30 primary regions for watches grew in November.

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