Last month we reported on the Federation of the Swiss Watch Industry FH’s report on Swiss watch exports for the month of March 2020. It showed a fall, but the expectation was that April’s results would be considerably worse, due to the cessation of production and the fall in distribution and sales.
The drop has been dramatic, collapsing by 81.3%, to 328.8 million francs.
Both in terms of value and number of items, all materials fell between 75% and 90%, with all price segments showing similar patterns. All markets fell, with the only exception being China, where exports fell 16.1% in April, following March’s increase.
[Photo credit: FH]