Watch exports fall again in June
Published: Thursday, Jul 18th 2024, 08:20
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Swiss watch manufacturers once again exported less 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 and negative in the other months. Overall, exports amounted to CHF 12.9 billion, 3.3% below the record level of the previous year.
©Keystone/SDA
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