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Swiss Watch Exports Continue Decline

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The Swiss watch industry began the year where it left off, with exports falling in January, albeit at a slower pace than in 2016.

Export shipments of Swiss timepieces fell 6.2 percent, according to the Federation of the Swiss Watch Industry. Those numbers reflected the calmer trend that marked November and December, when exports changed from a sharp drop through the year to a more gradual slide. In 2016, exports fell 10 percent due to lower demand from Hong Kong.

Exports to Hong Kong, Switzerland’s largest trade partner for watches, slipped 3.9 percent in January. The U.S.A and China have shown stronger improvements than Hong Kong. Import orders from the U.S. increased 5 percent in January, while shipments to China jumped 7.8 percent.