RTTNews - The value of watch exports from Switzerland dipped 31.9% in June from the previous year to CHF 1.1 billion, the Federation of the Swiss Watch Industry FH said Tuesday.
The federation said with an above-average fall, gold watches pulled the total value sharply downwards. Exports of gold watches fell 35%, while those made from steel declined 29.7%. Watches made from both metals were down 46.2%, while platinum watch exports decreased 22.7%.
In June, watch exports to Hong Kong, the main market for Swiss watches, dropped by an above-average level of 35.9%. At the same time, the exports to the U.S, the second main market dipped 49.2%, similar to February and March. Moreover, watch exports also fell in double-digits to France, Italy, Japan and Germany in the month.
In the first half of the year, the watch exports were down 26.4%.
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