Swiss Watch Exports Decline 3.1% in June

In the first six months of the year, sales dipped 0.8 percent.

PARIS — Swiss watch exports declined 3.1 percent in June, due primarily to gold timepieces, which reported a double-digit fall, and partially because of one less working day in the month than in 2012, the Federation of the Swiss Watch Industry reported.

Foreign sales of Swiss timepieces in the month reached 1.9 billion Swiss francs, or $2.03 billion, according to the federation. This followed a 3.9 percent fall in May and a 5.7 percent increase in April.

Dollar figures are calculated at average exchange for the period to which they refer.

The number of exported wristwatches declined 7.9 percent in relation to June 2012, dragged down by a 23.2 percent drop in the amount of timepieces in other metals. Volume fell 16.5 percent for silver and gold-plated timepieces and 14 percent for other categories.


RELATED STORY: Swiss Watch CEO Lauds Competition Ruling >>


Only wristwatches priced between 200 francs and 500 francs, or $213.80 to $534.50, registered growth of around 20 percent. Sales of timepieces costing less than 200 francs fell 14.8 percent in volume terms. Meanwhile, exports of wristwatches priced at more than 500 francs retreated 3.4 percent in value.

Most of the Swiss watch industry’s main markets weakened in June. Europe posted its first sales decline in two years: 0.8 percent. Revenues dropped 17.3 percent in France, 15.3 percent in Hong Kong, 12.3 percent in Italy, 6.1 percent in Germany and 3.1 percent in the U.S.

After six months of retreating revenues, China registered a 10.6 percent gain.

Total sales in the first six months of the year advanced 0.8 percent to 10.2 billion Swiss francs, or $10.9 billion.

“Growth is still the order of the day, but on a more measured basis than in previous years,” the federation said.