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Swiss Watch Exports Slump Extends Into Eleventh Month in May

  • Weak demand spreads across Europe, with drops in Italy, France
  • Shipments to Hong Kong retreat 17%, a 16th month decline
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Source: MMT via Bloomberg
Updated on

Swiss watch exports dropped in May, bringing the industry’s slump close to a full year as the industry faced plunging demand across Asia and Europe.

Shipments fell 9.7 percent to 1.56 million Swiss francs ($1.62 million), the Federation of the Swiss Watch Industry said in a statement Tuesday. Exports have declined for the past 11 months, and had back-to-back monthly double-digit declines in March and April.