RAPAPORT... Resurgent Hong Kong
demand drove a sharp rise in global Swiss-watch exports in April, according to
data from the Federation of the Swiss Watch Industry.
Worldwide shipments
of Swiss timepieces climbed 14% year on year to $1.8 billion (CHF 1.81 billion)
last month, the trade organization reported Tuesday. Exports to Hong Kong
jumped 43% to $261.3 million (CHF 259.5 million) — a rate that was three times higher
than the world average. Shipments to the US rose 13% to $176.9 million (CHF
175.7 million), while supply to China increased 11% to $139.8 million (CHF 138.8
million).
Exports of steel
watches soared 17% to $693.6 million (CHF 688.9 million), while exports of gold
and steel timepieces climbed 9% to $279.1 million (CHF 277.2 million).
Shipments of timepieces made of precious metals went up 13% to $552.2 million (CHF
548.4 million).
Globally, shipments
of all value categories increased, with the largest growth coming from the
higher-priced classes. Exports of those worth under $201 (CHF 200) and those
valued between $201 and $503 (CHF 500) rose 8%, while those that cost from $503
to $3,021 (CHF 3,000) grew 16%, and those over $3,021 jumped 15% during the
month.
Image: Max Pixel
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