Swiss watch trade recession-led decline slows

First published: 21-08-2009

Despite taking a beating due to the recession, the Swiss watch industry continues to grow stronger, with the decline in exports slowing to show the continuing popularity of timepieces.

The Federation of the Swiss Watch Industry reported that the country's exports fell by 25.9 per cent in July in comparison to the previous month, a marked improvement on the decline of 31.9 per cent registered in June.

Around £750 million was brought in through exports in July, with the second biggest importer of Swiss watches - the US - reducing sales by 39.2 per cent compared to June's 49.2 per cent decline.

It was watches between the prices of £115 and £285 which fared the best during last month, where exports only fell by seven per cent, sparking confidence that next month could register a growth as international markets become more inclined to invest in timepieces.

Swatch watches, Switzerland's largest exporter, is sponsoring this weekend's Red Bull X-Fighters freestyle motocross competition at Battersea Power Station, London.

© Copyright WATCH SHOP UK - DO NOT COPY

Related articles

A buyer’s guide to men’s Rotary watches

Posted: 10-10-2018

Rotary is the master of creating classy, cool watches you can wear every day. Explore Rotary skeleton watches, vintage designs, and more.

6 men’s and women’s skeleton watches you’ll love

Posted: 28-09-2018

Strip back and show off with a skeleton watch. Not sure which to buy? We’ve picked six of the best to give you an idea.

5 men’s diamond watches for every occasion

Posted: 21-09-2018

The old cliché goes that diamonds are a girl’s best friend – but with so many handsome men’s diamond watches out there, why should you miss out? We showcase five of the best, from brands like Michael Kors, Accurist, and more.

Choosing and adjusting a watch: How to get the perfect fit

Posted: 13-09-2018

Everything you need to know about choosing a watch that fits, including how to get your watch bracelet adjusted using the Watch Shop bracelet adjustment service.