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The consequences of the coronavirus epidemic began to be felt in terms of Swiss watch exports in February.
Their value contracted by 9.2% to 1.6 billion francs. However, this development does not yet fully reflect the actual situation on certain markets.
Steel watches accounted for almost two-thirds of the decline in value and 90% of the decline in volumes. In total, the branch exported 1.3 million timepieces, 380,000 less than in February 2019 (-22.2%) at-casinos.com.
All price segments fell. This was extremely strong for the 200-500 franc range (export price), which fell by more than half. Below 200 francs and between 500 and 3,000 francs, export turnover fell by 18%. Damage was limited to watches over 3,000 francs, which almost maintained their level of last year.
Several outlets still resisted, but most Asian markets posted a decline, often very strong. The United States (+ 17.8%) continued its momentum in January and benefited from a favorable base effect. In Asia, Hong Kong (-42.0%) recorded its largest monthly decline in the past twenty years, and China plunged 51.5%.
Japan (-2.1%) fell only slightly, while the United Arab Emirates (-26.3%) or South Korea (-11.2%) fell more sharply.
In Europe, the development was unfavorable in the United Kingdom (-18.9%), but it continued to improve in Germany (+ 7.3%), in France.
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Featured photo: © 2020 Raymond Weil[/vc_column_text][/vc_column][/vc_row]
