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Hong Kong and US Boost Swiss Watch Trade
Mar 20, 2018 9:00 AM
By Rapaport News
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RAPAPORT... Swiss watch exports increased in February, driven by the
strongest monthly growth in shipments to Hong Kong and the US in six years.
Worldwide shipments of Swiss timepieces climbed 13% year on
year to $1.78 billion (CHF 1.69 billion) last month, the Federation of the Swiss Watch Industry reported Tuesday. Exports to Hong Kong
jumped 36% to $268.1 million (CHF 255.2 million), while those to the US soared 26%
to $196.1 million (CHF 186.7 million). Supply to China grew 22% to $137.6
million (CHF 131 million).
Globally, exports of watches worth over $3,151 (CHF 3,000) went
up 13% by value in February. Shipments of timepieces priced under $210 (CHF 200) rose
8%, after more than a year of declines. Mid-priced ranges all saw moderate
increases in shipments, with exports of goods that cost between $210 and $525
(CHF 500) increasing 9%, and those priced between $525 and $3,151 (CHF 3,000)
gaining 19%.
The improvement in the market comes ahead of the Baselworld
show, an important event in the watch and jewelry industry. The exhibition begins
Thursday and runs through next Tuesday.
Image: Courtesy of Baselworld
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Tags:
Baselworld, Federation of the Swiss Watch Industry, Hong Kong, Rapaport News, swiss watch, Swiss watch exports, US
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