Swiss Watch Exports – (January 2016) recorded a marginal increase in the Middle East
01 Mar, 2016
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In January 2016 Swiss watch exports worldwide reached to 1.5 billion francs as per the figures released by Swiss Watch Federation,; this is a drop of (7.9%) compared to the same period in the year 2015. In comparison of January 2016 to the 2015 figures of the same month, Hong kong signed off with a steep decline of (-33.1%), Middle East made a marginal progress of 1.1%, United States & China also recorded a negative growth of (-13.7%) & (-1.9%) respectively; However Japan made very good progress by recording 35.7% growth so also the European markets recording a positive growth. It is remarkable to note that the Middle East is positioned at No. 2 in terms of Swiss Watch Exports after Hong Kong and is followed by USA, China & Japan among the top Five. The Middle East markets recorded a net of CHF 162.4 million Swiss Watch Exports with a market share of 10.7% led by UAE, Saudi Arabia, Qatar, Kuwait, Bahrain, as top five markets in the region.
