{"id":146195,"date":"2024-07-19T16:33:30","date_gmt":"2024-07-19T14:33:30","guid":{"rendered":"https:\/\/luxus-plus.com\/?p=146195"},"modified":"2024-09-19T11:51:00","modified_gmt":"2024-09-19T09:51:00","slug":"swiss-watch-exports-slumped-in-june","status":"publish","type":"post","link":"https:\/\/luxus-plus.com\/en\/swiss-watch-exports-slumped-in-june\/","title":{"rendered":"Swiss watch exports slumped in June "},"content":{"rendered":"

The Swiss watchmaking federation reported a decline of more than 7% in exports in June, led by China and Asia in general (excluding Japan) and poor sales of steel watches.
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Still weighed down by the Asian market, and China in particular<\/strong>, Swiss watch exports had a gloomy June<\/strong>, according to the Swiss Federation.<\/p>\n

They fell by 7.2% to 2.3 billion Swiss francs<\/strong> compared with June 2023.<\/p>\n

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The Federation attributes this underperformance to \u201ctwo fewer working days<\/strong>\u201d and \u201ca more marked decline in Asian markets, with the notable exception of Japan<\/strong>\u201d.<\/p>\n

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For the first half of the year, the industry reported a 3.3% drop in exports to 12.9 billion Swiss francs.<\/p>\n

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Asia (excluding Japan): the weak link<\/h2>\n

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With the exception of Japan (+13.2% to 174.8 million Swiss francs)<\/strong>, Asia was Swiss watchmaking’s weakest link. Sales fell by 36.5% in China<\/strong> (to 162.8 million Swiss francs) and by 23.1%<\/strong> (to 165.9 million Swiss francs) in Hong Kong<\/strong>. This was the fifth consecutive month of decline<\/strong>, against a backdrop of sluggish economic growth and spending, youth unemployment and the real estate crisis.<\/p>\n
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