Advanced Search

Hong Kong Jump Boosts Swiss Watch Exports

Aug 22, 2017 6:55 AM   By Rapaport News
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share

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
Tags: China, Federation of the Swiss ‎Watch Industry, Hong Kong, Rapaport News, Swiss watch exports, Swiss watch trade, Switzerland, US, watches
Similar Articles
BuchererWorld Makes More Time for Swiss Watches
Dec 21, 2017
Swiss watch exports continued to rebound in November as shipments to China grew by the highest margin in more than
JC Penney smartwatches Oct 2017Smart Watches to Boost JCPenney Jewelry Sales
Oct 22, 2017
JCPenney has launched a selection of smart watches in its stores as part of a re-branding of its jewelry department. Electronic
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2018 by Martin Rapaport. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are TradeMarks of Martin Rapaport.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.