Swiss watches experienced the 15th month of falling exports in September 2016, with the total value of SFr 1.7 billion, a 5.7-percent drop over last year, according to a recent release of the Federation of the Swiss Watch Industry.
Watches in ‘precious materials’ posted a drop of 14.9 percent, while the ‘other metals’ category experienced a sharp downturn of 21.5 percent. Wristwatches in ‘steel’ and ‘gold-steel’ categories posted a small rise by one percent and 2.2 percent respectively.
Exports to Hong Kong marked the biggest contraction of the last 20 months in September 2016, seeing a 39.6-percent drop against last year. The United States, nevertheless, has become the leading market for Swiss watch exports for the second time this year, with a 4.7-percent increase. Japan returned to growth after six months of falling sales, while China remained stable, said the release. (Photo courtesy: Federation of the Swiss Watch Industry)
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