News

Advanced Search

Asia Keeps Swiss Watch Recovery on Track

Nov 21, 2017 5:32 AM   By Rapaport News
Email Email Print Print Facebook Facebook Twitter Twitter Share Share


RAPAPORT...
Swiss watch exports grew in October as demand from key Asian markets continued its recent upward trend.

Total shipments increased 9% year on year to $1.86 billion (CHF 1.85 billion) for the month, according to data the Federation of the Swiss Watch Industry released Tuesday. Orders from Hong Kong jumped 16% to 246.9 million (CHF 245.2 million), while exports to China surged 18% to $150 million (CHF 149 million), and Japanese orders leapt 22% to $133.3 million (CHF 132.4 million). Growth in those markets outweighed a 7% drop in exports to the US to $184.6 million (CHF 183.3 million).

Exports within Europe advanced 6%, but demand across the continent was mixed: Growth in the UK was 1.2%, lower than in previous months, while exports to Italy slipped 0.7%.

In terms of watch categories, there was stronger growth in the mid-range goods, with timepieces that wholesale at $504 (CHF 500) to $3,021 (CHF 3,000) seeing a 20% rise in exports. Watches priced at more than $3,021 grew 6%, while the increase in the $201 (CHF 200) to $504 range was 10%. Similarly, the steepest increase by material was steel watches, of which exports rose 12%, compared with 8% for precious-metal specimens.

Swiss watch exports grew 2.4% in the first 10 months of the year, the federation added.

Image: Shutterstock
Tags: asia, China, Europe, Federation of the Swiss ‎Watch Industry, Hong Kong, italy, Japan, Rapaport News, Swiss watch exports, Swiss watches, UK, watches
Similar Articles
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
© 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.