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Swiss Watch Exports Continue To Fall

Switzerland's watch exports continued to decline in September, while demand from China for luxury goods surged, figures from the Federation of the Swiss Watch Industry FH showed on Tuesday.

Watch exports fell 12 percent year-on-year, broadly the same as in August.

In the January to September period, watch exports declined 28.3 percent.

The fall in volumes of wrist watch exports remained significant, at 25.2 percent compared with September 2019, the exporters' group said.

Exports to China surged 78.7 percent year-on-year amid a recovery in domestic consumption in the country after the coronavirus crisis.

Meanwhile, other main markets such as US, Hong Kong, Japan, Singapore, South Korea, Europe and the UK continued to log sharp declines as their economies reel under the impact of the Covid-19 pandemic.

The Netherlands posted a growth for a third consecutive month, largely due to reexports to other markets.

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