RTTNews - Switzerland's watch exports dropped 26.3% year-on-year in April to 1.04 billion francs, a report by the Federation of the Swiss Watch Industry FH said Thursday. The marked slowdown in exports was comparable to the contraction in March, the Federation said.
During the month, watches made from steel, gold as also gold-steel saw double-digit declines in exports. Watches made from gold fell 23.3%, while those made from steel and gold-steel dropped 25.2% and 45.8% respectively. Watches made from other metals were down 10.7%.
Among the trading partners, watch exports to Hong Kong, the largest market for Swiss watches, dropped 21.5%, while the exports to the U.S., the second largest market declined 42.3%. Moreover, watch exports decreased 12.8% to France, 34.8% to Japan, 16.1% to Germany and 6% to Italy.
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