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Hong Kong Jump Boosts Swiss Watch Exports
Aug 22, 2017 6:55 AM
By Rapaport News
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RAPAPORT... Swiss watch exports increased in July as trade with Hong
Kong and China continued to improve and shipments of high-end watches grew.
Total exports increased 3.6% year on year to $1.76 billion
(CHF 1.7 billion), the Federation of the Swiss Watch Industry said in a
statement Tuesday. Shipments to Hong Kong jumped 17% to $212 million, after
diving 33% in the same month a year ago. Orders from China grew 22% to $135.5
million, while exports to the US crept up 1.4% to $187.4 million.
A 6% increase in exports of watches worth more than $3,105
(CHF 3,000) outweighed declines in the cheaper categories, the data showed.
Shipments of precious-metal watches jumped 9%.
The Swiss watch trade continues to show signs of
stabilizing, the federation said, with total export figures recording a third
consecutive month of growth. In 2016,
exports fell 10% mainly due to weaker demand from Hong Kong, to which shipments
slumped 25%.
Image: Newscast |
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Tags:
China, Federation of the Swiss Watch Industry, Hong Kong, Rapaport News, Swiss watch exports, Swiss watch trade, Switzerland, US, watches
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