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Hong Kong Jump Boosts Swiss Watch Exports

Aug 22, 2017 6:55 AM   By Rapaport News
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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
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