Fall In Swiss Watch Exports Eases In December

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Switzerland's watch exports fell 7.2% year-on-year to CHF1.22 billion in December, the Federation of the Swiss Watch Industry FH said in a report on Thursday. It follows a 10.6% decline in November. The group said the year 2009 ended with an overall decline of 22.3% to CHF13.2 billion.

Exports of wrist watches fell 7.9% year-on-year to CHF1.142 billion and those of other products grew 4.4%.

According to the report, exports of watches made of all the major materials dropped in December. At the same time, bimetallic timepieces recorded strong growth.

Exports to Hong Kong, the leading market for Swiss watch exports, increased further. Shipments to China also grew gain. But, exports to the U.S, France, Japan and Italy marked declines.

(Market News Provided by RTTNews)