Swiss Watch Exports Continue To Fall In July

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Thursday, the Federation of the Swiss Watch Industry FH said watch exports fell 25.9% to CHF 1.2 billion in July compared with the previous year.

Exports of wrist watches were down 25.4% year-on-year to CHF 1.1 billion and those of other products plunged 33.7% to CHF 66.3 million.

Shipments to Hong Kong slumped 31.7% and to the U.S. dropped 39.2%, continuing the fall seen in previous months. Exports to China slipped 21.8% and those to European markets fell at a relatively slower pace.

In the first seven months of the year, Switzerland's total watch exports were lower by 26.3% to CHF 7.3 billion. A year ago, Switzerland exported watches worth CHF 9.9 billion in the same period.

Thursday, the Federation of the Swiss Watch Industry FH said watch exports fell 25.9% to CHF 1.2 billion in July compared with the previous year. (Market News Provided by RTTNews)