Q1 watch exports down 6.3% yr/yr (Il Sole 24 Ore Radiocor) - Zurich , 18 Apr - In March 2024, Swiss watch exports fell by 16.1% compared to the previous year to reach 2.0 billion francs, led by a decline in sales in China and Hong Kong, according to data from the Federation of the Swiss Watch Industry (FH).

In the first quarter of 2024, Swiss watch exports fell 6.3% compared with the previous year.

In March, exports to China saw a 41.5% year-on-year decline, "dropping to a level below that of March 2020, when the sector practically came to a halt in the middle of the month because of the Covid pandemic," FH said. Swiss watch exports to Hong Kong were down 44.2%.

Among the other main markets, the US (down 6.5%), Japan (down 3.5%) and the United Arab Emirates (down 3.6%), in particular, were less affected than the average. Singapore (down 14.8%), the UK (down 13.2%), Germany (down 13.1%) and France (down 11.9%) were closer to the global average.

AAA-Hob

(RADIOCOR) 18-04-24 19:40:53 (0750) 5 NNNN