Value of Swiss watchmaking exports remains high in April 2019
Despite the most negative base effect of the year, the value of watch exports remained high, at almost 1.8 billion francs, down 0.4% compared with April 2018. Four months into the year, the situation continues to be better than expected, with a total increase in value of 2.1%. All segments below 3,000 francs (export price) saw steep declines. The reduction in the number of timepieces priced below 200 francs was -23.6%. Watches priced over 3,000 francs remained positive, helping to stabilise the trend in export turnover. Results for April varied across different markets. The negative change in exports to Hong Kong (-3.9%) accentuated the slowdown in growth that began in late 2018. The trend in the United States (+16.8%) was in the opposite direction and confirmed the strength of the situation there, in spite of a negative base effect. Japan (+21.2%) posted its fourth consecutive month of strong growth, while China (-5.5%) lost ground.