Watch exports continue to decline in August

Swiss watch exports continued to decline in August, but at a slower pace compared to previous months. They came to 1.3 billion francs, down 11.9% over one year, attributable to the coronavirus pandemic.

From January to August, overseas shipments of the watch industry amounted to 9.8 billion francs, down 30.5%, said the Federation of the Watch Industry (FH).

The evolution of the main markets turned out to be negative with the exception of mainland China (+ 44.9%), which showed very strong growth for the third consecutive month. This performance can be explained by the gradual repatriation of purchases made abroad before the health crisis.

In second place, the United States (-4.0%) fell, as did Hong Kong (-16.4%). Due to the absence of tourists, especially Chinese, shipments to other European countries fell by 20.5% and 24.5% to Japan.



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