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Swiss exports: smaller than expected contraction
Economy

Swiss exports: smaller than expected contraction

Tuesday, 23 May 2017
Press Release
1 min read

Despite three fewer working days, April saw watch industry exports reach a figure of 1.5 billion francs. At -5.7%, the contraction was less severe than expected. The trend therefore remains close to the figure posted at the end of March. For the first four months of the year, the variation is -3.6%.

Watches in precious metals were the worst affected by weaker demand. At the other extreme, bi-metal timepieces achieved significant growth. Overall volumes were affected by the substantial fall in the Other Materials category.

Watches priced at less than 200 francs (export price) reported a heavy fall. Their value contracted by 21.8% against April 2016. Above 200 francs, the fall proved uniform, at -4.5% in terms of both value and volume.

The main markets differed widely in the month of April. Hong Kong (-16.8%) and the United States (-19.0%) reported a steep fall, while China (+38.9%) and the United Kingdom (+30.0%) grew even faster than before. Japan (-7.3%) remained in negative territory, as did Italy (-13.4%) and Germany (-5.3%).

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