In May 2013, Swiss watch exports fell 3.9% year on year to $ 1.958 billion (1.843 billion Swiss francs), Rapaport reported citing data from the Federation of the Swiss Watch Industry. The overall decline in exports is mainly due to a fall in gold watch exports, as well as a double-digit decline in exports to the largest markets in Hong Kong, China and France.
The export of watches fell by 3.8% to $ 1.905 billion (1.793 billion Swiss francs) for the month, while the number of products fell by 7.9% to 2.3 million pieces. The export value of other watch products declined by 5.3% to $ 109.5 million (103.1 million Swiss francs).
The Federation explained that three of the six largest export markets for Swiss watches were experiencing a drop in sales, which was measured in double digits.
In particular, exports of Swiss watch products to Hong Kong fell by 16% in May to $ 364.9 million (343.5 million Swiss francs), exports to China decreased by 19% to $ 125.5 million (118.2 million Swiss francs), and exports to France - by 15%, amounting to $ 112.1 million (105.5 million Swiss francs).
The Swiss watch exports in the US for the reporting month were generally in line with the same period in 2012, falling only 0.8% to $ 208.2 million (196 million Swiss francs). Exports to Italy and Germany continued to grow, but growth slowed.