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Swiss Watch Exports Surge in Asian Markets

Feb 21, 2018 8:49 AM   By Rapaport News
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RAPAPORT... Swiss watch exports grew in January, driven by higher Asian demand, the Federation of the Swiss Watch Industry reported.

Exports increased 13% year on year to $1.73 billion (CHF 1.62 billion) in January. Shipments to Hong Kong climbed 21% to $258.5 million (CHF 242.2 million), its highest monthly rise in five years. Supply to China jumped 43% to $188.7 million (CHF 176.8 million), surpassing the US, where watch exports have declined over the past two years, falling 1.9% for the month to $174.1 million (CHF 163.1 million).

Globally, exports of watches priced under $213 (CHF 200) dropped 3.5% by value in January, continuing a two-year downward trend. Higher price ranges all saw an increase in shipments, with exports of timepieces that cost between $213 and $534 (CHF 500) rising 12%. Exports of those goods priced from $534 to $3,201 (CHF 3,000) jumped 21%, and supply of those worth more than $3,201 grew 10%.

Image: Creative Lab/Shutterstock
Tags: asia, China, Federation of the Swiss ‎Watch Industry, Rapaport News, swiss watch, Swiss watch exports
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