Swiss watch exports recorded their first monthly year-on-year fall for almost 18 months.
The latest figures from the Federation of the Swiss Watch Industry reveal exports being down 6.9% in September compared to the same month last year.
The overall picture for 2018 is still very positive for Swiss watch exports though, with growth at 7.5% after nine months.
The UK’s performance was down slightly, 2.2% year-on-year for the month of September, which means that it’s the fourth biggest market in the world, behind China (third), the USA (second) and Hong Kong (first).
The big winner and loser from September’s data are China and Singapore respectively. China reported figures up 17.3% year-on-year, while Singapore was down 49.4%, largely down to the bumper September that it enjoyed in 2017.
The CHF 500-3,000 price segment held up better, in value terms, than any other, being down just 5.7%. All other price categories suffered bigger losses, with the sub-CHF 500 market being worst affected.