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Switzerland : watch exports decelerates in November

Switzerland : watch exports decelerates in November

Swiss watch exports decelerated in November with an increase of 3.9% only, according to the Watch Federation.

By Marguerite 

Swiss watch exports decelerated in November with an increase of 3.9% only. However, watch exports made a 1.8 billion euros turnover during november. A result not seen since 2015.

« Undergoing a negative base effect, watch exports decreased in november but remain significantly positive », said the Watch Federation.

Asian exports, which represents an important market for luxury goods, keeps growing. In Hong-Kong, exports rose from 9,5% to 15,1%. Exports alos increased of 11,2% in the USA in november. On the other hand, exports in Europe  felt down of 5.9% and only grew in France and Germany.

 

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photo: Swiss watches

 

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