Posted on March 21, 2020

Swiss watch exports to Hong Kong and mainland China fell deeply in February, as the coronavirus precautions took their toll.

Exports fell by 9.2% to 1.6 billion Swiss francs in February, with Hong Kong imports down 42.0% and imports to mainland China 51.5% lower, the Swiss watch federation (FH)said.
Swiss watchmakers are very dependent on Chinese imports, so the coronavirus outbreak in China severely impacted their business in February before, the virus spread out.
Cheaper watches with an export price of 200 to 500 francs fell by more than half, while watches over 3,000 francs were only slightly down compared with last year.

USA Covid-19 italy Europe Hong Kong Finland Norway freight forwarding cargo Canada Brexit Denmark logistics shipping Brazil Poland Seafreight imports India air freight Germany EU Switzerland South Africa freight forwarders wine France China U.S.A Turkey Netherlands ports import exports China Sweden freight Australia container export Freight Shipping Vietnam International Freight Japan importers containers exports exporters Spain Ireland rail freight