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Exports continue to fall
Economy

Exports continue to fall

Tuesday, 21 March 2017
By The FHH Journal editors
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The FHH Journal editors

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2 min read

Watch industry exports declined further in the month of February. At 1.5 billion francs, their value was 10% lower than in February 2016, still in line with the downturn reported for the whole of last year.

La baisse n’a épargné aucun groupe de matières. Les montres en métaux précieux sont restées un acteur majeur de cette tendance. La catégorie
No group of materials escaped this decline. Precious metal watches were a major contributory factor to this trend once again. The Other metals category was severely affected, although the impact on the overall result was less. In terms of volumes, the Other materials and Other metals categories dragged the result down significantly.

The downturn proved distinctly more severe at the two ends of the price scale. The export value of watches priced at less than 200 francs (export price) lost more than 20%, while the reduction was -11.9% for timepieces priced at over 3000 francs. Between the two, export sales fell more moderately at -4.0%.

The downturn continued to flatten out in Hong Kong, although hesitantly. In February, it was more marked than the global average at -12.1%. The United States reported one of the most severe falls, although after two months of rising figures. The negative trend is in phase with the results of sales on this market. China posted a new monthly advance for the sixth time in the past seven months. The United Kingdom also maintained positive figures. Suffering from a highly unfavourable base effect, the deterioration of the Japanese market continued in February as it had in January. Italy, Germany and France all reported lower figures.

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