After the previous and brief slump in September Swiss Watch exports are back in full swing with a year-over-year growth of +7.2%% which is in line with the annual forecast. According to the analysis shared by the Fédération de l’industrie horlogère Suisse and much to nobody’s surprise, the lowest priced Swiss watch exports are taking a beating with a -16.5% drop in units exported. The over 3000 CHF category however makes up for that with a 12.8% increase in exported units.
As per the FHS “The three foremost export countries and many other smaller markets reported double-digit growth. Hong Kong gained 10.3% and the United States 11.1%. China recorded one of its biggest monthly increases for the year at +24.1%. Japan (-1.0%) was down slightly because of a highly unfavourable base effect. The main European markets such as the United Kingdom (+5.0%), Germany (+8.7%) and France (+11.6%) benefited from a positive dynamic with the notable exception of Italy (-14.7%) and Spain (also -14.7%)”
Would be interesting to know for sure if the Smart (Apple) watches are responsible for the massacre in the lower price ranges..