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Swiss Watch Exports Remain Flat in August

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Watch exports from Switzerland remained flat year on year at $1.569 billion (CHF 1.493 billion) in August, according to the Federation of the Swiss ‎Watch Industry.‎ The federation noted that August is one of the weakest months of the year for watch exports.

Wristwatch exports rose 0.6 percent to $1.488 billion (CHF1.416 billion), while the number of units shipped fell by 0.1 percent to 2.180 million.

The federation explained that in the top export markets, several reductions were offset by gains elsewhere. Exports to Hong Kong declined for the fourth month in a row and fell 8 percent to $288.5 million (CHF 274.5 million), while exports to the U.S. grew 7 percent to $157.9 million (CHF 150.3 million).

Exports to China continued to recover and rose 16 percent to $138.8 million (CHF 132.1 million). Exports to Japan increased 17 percent to $96.8 million (CHF 92.1 million). Meanwhile, exports to Germany fell 16 percent to $85.7 million (CHF 81.5 million), while exports to France grew 11 percent to $82.9 million (CHF 78.9 million).