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News: Swiss Exports Show Strong Negative Influence From Hong Kong

The latest statistics from the Federation of the Swiss Watch Industry are out. November data is in the red, and that is to a large extent due to Hong Kong figures dragging the overall number (way) down. Stable growth was recorded in other regions with a few outliers.

The United Kingdom (-17.3%), France (-17.4%) and the United Arab Emirates (-27.8%) also pulled the figures down. On the other end, Singapore (+29.6%), South Korea (+16.7%) and the Netherlands (+67.4%) performed significantly better than in 2018.

‘The fall was attributable to steel and precious metal watches. At the same time, the total number of items continued to decline in November (-355,000 items). Steel watches and those in the Other materials category saw particularly sharp falls.’

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