Swiss watch exports drop 3% in June

The drop is attributed to the fall in gold watch exports
Swiss watch exports drop 3% in June

In June 2013, the exports of Swiss watches dropped 3 percent (on y-o-y basis) to $2.018 billion, which is being attributed to the 12 percent drop in gold watch exports, reports say.

Wristwatch exports slipped 2 percent to $1.914 billion and in volume terms it dropped 8 percent to 2.3 million.

According to reports, the total number of watches exported was influenced by exports in the categories of materials and metals which were markedly weaker than gold. The value of other products ‎dropped 15 percent to $112.2 million, reports add.‎

According to the various price brackets, the watches priced less than $217 dropped in their export volume by 15 percent; the volume of watches priced between $217 to $544 rose around 20 percent, the only price segment with a rise in exports. Watches priced between $544 and $3,265 dropped by 3 percent in export volumes and those priced over $3,265 dropped 4 percent.

Market-wise, the export volumes dropped in five of the six top markets, with Hong Kong recording a 15 percent drop, France noting a 17 percent fall; U.S. dipped by 3 percent and Italy recorded a 12 percent fall, while Germany saw a 6 percent fall. The exports in value terms rose for the Chinese markets (the first rise after a fall for six consecutive months), by 11 percent to $135.4 million.

Follow DiamondWorld on Instagram: @diamondworldnet
Follow DiamondWorld on Twitter: @diamondworldnet
Follow DiamondWorld on Facebook: @diamondworldnet

Diamond World