21.08.2025, 07:49
Russia has started buying more watches from the BRICS countries
Source: OREANDA-NEWS
OREANDA-NEWS In January-July 2025, the supply of watches and watch movements from China to Russia increased almost threefold. This was reported by RIA Novosti with reference to the statistical service of China.
It turned out that in January-July, Russia bought $208.1 million worth of these products from China, or 2.8 times more when compared with the same period last year. July shipments are estimated at $41.4 million. China mainly supplied timers ($181.8 million), wristwatches and pocket watches made of non-precious metals ($19.5 million), stationary watches, watch straps ($1.4 million) and clockwork switches ($915,000) to Russia.
Russia ranks second in the list of major importers of Chinese watches. The top five buyers also included the United States ($246.3 million), Japan ($117.4 million), Switzerland ($108.5 million) and Malaysia ($81.3 million).
In early August, after the United States imposed nearly 40 percent tariffs on imports from Switzerland, the shares of its luxury watch manufacturers collapsed. There are forecasts that exports of these goods will collapse to the lowest level since the beginning of the pandemic in 2020. Analysts fear devastating consequences for many local brands.
It turned out that in January-July, Russia bought $208.1 million worth of these products from China, or 2.8 times more when compared with the same period last year. July shipments are estimated at $41.4 million. China mainly supplied timers ($181.8 million), wristwatches and pocket watches made of non-precious metals ($19.5 million), stationary watches, watch straps ($1.4 million) and clockwork switches ($915,000) to Russia.
Russia ranks second in the list of major importers of Chinese watches. The top five buyers also included the United States ($246.3 million), Japan ($117.4 million), Switzerland ($108.5 million) and Malaysia ($81.3 million).
In early August, after the United States imposed nearly 40 percent tariffs on imports from Switzerland, the shares of its luxury watch manufacturers collapsed. There are forecasts that exports of these goods will collapse to the lowest level since the beginning of the pandemic in 2020. Analysts fear devastating consequences for many local brands.
Комментарии