As can be seen from the figures from the Association of the Swiss Watch Industry (FH) and the Federal Office for Customs and Border Security (BAZG), export growth in June was 8.1 percent compared to the same month last year. Exports came to 2.13 billion Swiss francs.
Exports to China continue to fall
Compared to May, sales to China have recovered somewhat, as the FH association announced on Tuesday. However, they still fell by 6.4 percent compared to the same month last year. However, China is once again one of the six most important export markets for the industry.
Hong Kong recorded the sharpest slump year-on-year with a decline of around 31 percent. Nevertheless, the country remains one of Switzerland’s most important export markets.
In the Western markets, on the other hand, demand increased significantly in some cases. The United Kingdom, in particular, recorded strong growth with 28.7 percent. Exports to the US rose by around a fifth, although growth has halved compared to the first five months of the year. Watch exports to Singapore climbed 24.3 percent.
Cheap watches are becoming popular again
Exports of particularly expensive watches rose by around 8 percent in June compared to the same month last year. Inexpensive watches under 200 francs are particularly popular with an increase of almost a quarter. Exports of watches between 200 and 500 francs, on the other hand, fell by around 30 percent.
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