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During the initial five months of the year, exports declined by 3.1%. This information is included in the monthly report from the Federation of the Swiss Watch Industry.
The federation characterized the May numbers as "steady," considering that exports decreased by 1.6% in March and 16.6% in April. In May, the overall worth of 1.2 million exported watches was 2.1 billion Swiss francs ($2.6 billion).
Bimetallic models composed of gold and steel saw the highest sales, with exports rising by 34%. However, this increase could not offset the decline in demand for the more favored steel models among buyers.
Shipments to the United States rose by 12.3%, exports to France grew by 57%, and those to the United Kingdom climbed by 24.9%. Shipments to China decreased by 21.4%. Deliveries to the UAE, directly influenced by the circumstances in the Middle East, decreased by 13.5%.
source: reuters.com
The federation characterized the May numbers as "steady," considering that exports decreased by 1.6% in March and 16.6% in April. In May, the overall worth of 1.2 million exported watches was 2.1 billion Swiss francs ($2.6 billion).
Bimetallic models composed of gold and steel saw the highest sales, with exports rising by 34%. However, this increase could not offset the decline in demand for the more favored steel models among buyers.
Shipments to the United States rose by 12.3%, exports to France grew by 57%, and those to the United Kingdom climbed by 24.9%. Shipments to China decreased by 21.4%. Deliveries to the UAE, directly influenced by the circumstances in the Middle East, decreased by 13.5%.
source: reuters.com
