After a growth period of 16 months, Swiss watch exports dropped for the first time in September. But one factor for the drop was, that there are less working days in this year’s September compared to last year’s.
Of Switzerland’s top 10 markets, only two had significant increases in value: China (+17.3 percent) and South Korea (+26.8 percent). Switzerland’s biggest market (Hong Kong) saw a drop of 3.5 percent, the second biggest (US) dropped by 3.0 percent.
The overall picture for 2018 is still good though and the slowdown could be temporary. But some uncertainty is added due to this, one concern is the trade war between China and the US. Especially watch brands with a strong focus on China worry that it could impact their sales as the country has been a great growth-driver during the last years.
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