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A shallower downturn
Economy

A shallower downturn

Wednesday, 21 December 2016
By The FHH Journal editors
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The FHH Journal editors

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1 min read

The decline of watch industry exports reported for almost two years softened in November, in particular because there was one more working day than in 2015. The value of exports stood at just under 1.9 billion francs, down by 5.6%.

The fall in value was explained once again by precious metal watches. Higher sales of steel timepieces helped to offset the decline of other materials. In terms of the number of watches, the other materials and other metals categories showed substantial falls.

Among the main price segments, rises and falls alternated. However, the falls were more marked. Sales of watches costing between 200 and 500 francs (export price) and those priced above 3000 francs were lower, while the other segments posted small gains.

The main markets were down overall, but almost half of the 30 foremost outlets grew in November. Watch industry exports to Hong Kong remained practically stable. It is still too soon to draw positive long-term conclusions but in itself this is good news. On the other hand, the United States recorded one of its worst results of the year after March. The United Kingdom remained one of the few positive markets in Europe for the special reasons with which we are familiar. The other major markets of the old continent declined significantly. China rose once again after August and October, confirming the signs of a recovery of sales observed since the summer.

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