China’s Swiss Watch Imports Decrease in Q1

by swisscham in Business

China’s import of Swiss high-end watches may decrease over the next few quarters, ZHOU Ting, Dean of the Fortune Character Institute predicted in the China Watch Report. China imported 77,771 watches from Switzerland in 2012, down from 87,894 units in 2011, according to the report released Tuesday. However, as the average price increased, the import value in 2012 was about CHF 1.65 billion (USD 1.79 billion), slightly higher than the CHF 1.64 billion the previous year. But the declining trend was quite obvious in the first quarter of this year as the import value amounted to CHF 323.2 million, down by 25.6% year-on-year.

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