DAVOS: The Federation of the Swiss Watch Industry released numbers regarding Switzerland’s global watch exports in December 2016.
According to a report, the pace of decline slowed in December “as Chinese orders grew and shipments to the US recorded their best month of the year”. Total exports fell 4.6% to $1.66 billion, which is one of the shallowest drops of the year. Shipments to China jumped 28% to $139.9 million (CHF 139.6 million), US orders grew 11% to $179.5 million, but exports to Hong Kong fell 16% to $209.3 million – a decline that dragged the overall result down.
Full-year total exports slumped 10% to $19.45 billion. Exports to the US fell 9% and Chinese orders slipped 3.3%.
