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Swiss Watch Exports Edge Up 0.5% in August

The Federation of the Swiss Watch Industry reported stable foreign sales marking a period of consolidation.

PARIS — Swiss watch exports remained stable in August, showing a modest rise of 0.5 percent, despite one fewer working day, the Federation of the Swiss Watch Industry reported.

 

Foreign sales of Swiss timepieces totaled 1.49 billion Swiss francs, or $1.61 billion at average exchange rates for the period, which is an increase of 7 million, or $7.5 million, versus the previous year, according to the federation.

 

“This result represents consolidation at a high level for the sector, which continues to grow, albeit slowly,” it noted.

 

Steel watches remained the most stable category with an increase of 3.5 percent, which is on par with the general trend, the federation said. Meanwhile, gold lost 9.2 percent, while the category of other metals dipped 19.9 percent.  

 

Watches in the 200 to 500 francs range, or $214 to $535 at current exchange, registered growth of more than 15 percent. Sales of timepieces costing more than 3,000 francs, or $3,210, were up 1 percent. The weakest performance was registered for wristwatches priced between 500 and 3,000 francs, or $214 and $3,210, which slipped by around 7 percent.

 

China and Hong Kong continued to report declining sales, with drops of 4.7 percent and 3.2 percent, respectively. Sales in the United Stated eased by 1 percent. In the European ranking, France dropped to seventh place with a sales decline of 36.4 percent.

 

Meanwhile, Germany recorded a rise of 4.7 percent, the federation said. Singapore was up 7.6 percent, while Japan registered a 6.4 percent gain.