quartz analog watches

China is the world's largest export manufacturer of quartz analog watches, producing almost the entire output of low-end watches. Among the estimated 1,000registered makers in the country, more than 70 percent export watches either directly or through traders. On average, makers export about 65percent of their output, mostly to the US, Europe and Asia. China exported 956.9 million watches (main are quartz analog watches)worth US$977.4 million in 2004. However, export growth rates in the industry have been decreasing dramatically. Export sales last year increased by only 2.5 percent, significantly lower than the 22.4 percent growth rate registered in 2003. Even volume growth has slowed. Where total outbound shipments increased 10 percent in 2003, they rose only 5.4 percent in 2004. The downward trend is continuing in 2005. Exports in the first seven months of 2005 were down 7.7 percent to US$460.9 million from the same period in 2004. The number of pieces shipped fell 13.7 percent to 418.6million.