Retail trade Watch manufacturers export significantly less to China

Swiss watch manufacturers once again exported fewer timepieces abroad in June. Hong Kong and China in particular continued to weaken.

Swiss watch exports fell by 7.2% year-on-year to CHF 2.27 billion in June, as reported by the Federal Office for Customs and Border Security (FOCBS) and the Federation of the Swiss Watch Industry (FH) on Thursday. In real terms, i.e. adjusted for prices, the decline was as much as 9.7 percent.

Growth rates in the important markets of Hong Kong (-23.1%) and China (-36.5%) were particularly negative in June, while exports to the USA, clearly the largest export market for Swiss watches, increased significantly (+16.5%).

In the year to date, nominal growth rates were therefore positive in January and April, but negative in the other months. Overall, exports amounted to 12.9 billion Swiss francs, 3.3% below the record level of the previous year.