Watches in precious metals continued to have an adverse impact on the result. The Other metals category also experienced a sharp downturn, while timepieces in steel and bimetal posted a small rise. In volume terms, the timid advance of steel fell far short of offsetting the steep declines affecting the other categories.
All the price segments were affected by the reduction reported in September but to varying extents. Watches priced between 200 and 500 francs (export price) showed the steepest fall, while the 500 to 3,000 francs range was down very slightly.
For the second time this year the United States was the leading market for Swiss watch exports. This ranking is explained by growth of 4.7% against September 2015 and a very pronounced fall in Hong Kong which posted its biggest contraction of the last 20 months (-39.6%). Japan returned to growth after six months of falling sales, while China remained