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High End Boosts Swiss Watch Exports
Sep 25, 2017 6:00 AM
By Rapaport News
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RAPAPORT... Swiss watch exports grew in August as the industry enjoyed
increased trade with key Asian markets and a resurgence in demand for high-end
timepieces.
The nation’s watch shipments rose 4.2% to $1.46 billion (CHF
1.42 billion) year on year during the month, the Federation of the Swiss Watch
Industry said last week. Exports to Hong Kong edged up 2.7% to $169.7 million,
with Chinese orders advancing 3.3% to $111.5 million. However, trade with the
US fell 4.9% to $144.5 million.
The overall growth was entirely due to a 6.8% jump in
shipments of watches with an export price above $3,085 (CHF 3,000), the federation
explained. Exports of precious-metal timepieces increased 9.4%. Many of the
cheaper categories saw a decline.
Total exports are up 1.2% for the first eight months, the
organization added, noting a trend of “continuing recovery driven by half of
the principal markets.”
Image: Creative Lab/Shutterstock
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Tags:
asia, China, Federation of the Swiss Watch Industry, Hong Kong, Rapaport News, Swiss watch exports, Swiss watches, timepieces, watches
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