Most Recent Articles In Financial
Latest Financial Articles
- Onward Profits Inch Up
- Europe’s Markets Lose Ground Ahead of Greek Referendum
- Joe’s Receives Forbearance From Creditors
More Articles By
PARIS — Swiss watch exports rose 0.6 percent in March, the Federation of the Swiss Watch Industry reported on Tuesday.
Foreign sales of Swiss timepieces reached 1.7 billion Swiss francs, or $1.8 billion, in the month, according to the federation. This followed a 2.5 percent dip in February and a 10.8 percent increase in January.
Swiss watch exports’ first quarter closed at 4.7 billion Swiss francs, or $5.05 billion, a 2.4 percent advance.
Dollar figures are calculated at average exchange for the period to which they refer.
This March the number of exported wristwatches declined 7.1 percent in relation to March 2012, with a noted decrease in the amount of watches from the category of other materials sold.
Revenues from timepieces made of gold and steel increased in March by 5.6 percent and 2.9 percent, respectively.
Wristwatches costing less than 3,000 Swiss francs, or $3,174, registered a 6.4 percent revenue decrease and a 7.6 percent fall in unit terms. Above that price level the trends were positive, with the rise in value making up for the decline in other segments, the federation said.
Hong Kong recorded a 7.8 percent reduction in sales of Swiss watches, and China posted a 31.4 percent drop. The business rose 47.4 percent in the United Arab Emirates, 12.1 percent in Italy and 9.2 percent in the United States.