RAPAPORT... Swiss watch exports surged sharply in February as demand rose in nearly every market, generating the best performance for the month the sector has seen.Global shipments increased 24% year on year to CHF 1.99 billion ($2.14 billion) for the month, the Federation of the Swiss Watch industry reported last week. “Swiss watch imports grew very strongly in February,” the federation noted. “All the main markets produced double-digit growth. The US achieved particularly strong performance in spite of a negative base effect, as did China.” Supply to the US jumped 33% to CHF 298.9 million ($320.8 million), and orders from China climbed 22% to CHF 234.5 million ($251.7 million). Hong Kong saw its first rise since June, with exports up 12% to CHF 174.4 million ($187.4 million), while all European markets saw a strong rebound from the previous year. Those rises outweighed a 12% drop in shipments to Saudi Arabia. Exports of watches priced over CHF 3,000 ($3,224) saw the most significant spike, growing 28%. Shipments of timepieces valued between CHF 500 ($537) and CHF 3,000 were up 16%, and those in the CHF 200 ($215) to CHF 500 range inched up 4%. Supply of watches under $200 advanced 6%.
Image: A Swiss watch display. (Shutterstock)
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