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According to the Federation of the Swiss Watch Industry, the month of July was a weak month for Swiss watch industry exports. The industry saw the value of its exports lose 14.2% compared to July 2015 at 1.6 billion francs.
In terms of the number of pieces, the decline was spread over several different materials, foremost among them steel, other materials and other metals, each of which lost more than 100,000 units in the space of one month.
Hong Kong fell by more than 30% after a year and a half of highly negative variations. Two European markets posted substantial growth: Italy and the United Kingdom. France did not achieve the same performance and the downturn which began in February gathered pace. The situation in Germany, the eighth largest market, also deteriorated sharply from the month of April onwards. Growth of watch industry exports to Japan began to slow after five months of negative variations, including a double digit fall in the month of July.