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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
Tags: asia, China, Federation of the Swiss ‎Watch Industry, Hong Kong, Rapaport News, Swiss watch exports, Swiss watches, timepieces, watches
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