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Asia Drives Growth in Swiss Watch Exports

Jan 30, 2018 8:55 AM   By Rapaport News
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RAPAPORT... Swiss watch exports grew last year amid stronger demand from Asian markets, the Federation of the Swiss Watch Industry reported Tuesday.

Exports for 2017 increased 2.7% year on year to $21.29 billion (CHF 19.92 billion). Shipments to China jumped 19% to $1.64 billion (CHF 1.54 billion), while supply to Hong Kong rose 6% to $2.7 billion (CHF 2.52 billion). Those improvements outweighed a 4.4% drop in exports to the US to $2.19 billion (CHF 2.05 billion). 

For December, total exports edged up 0.7%, with shipments to Hong Kong rising 12% — the ninth positive month of the year for that market. Watch exports to the US fell 10%. 

“The main Asian markets generally saw steep increases in the final months of the year,” the federation said. “The US still seems to be in the doldrums and posted the steepest fall since May.” 

In terms of price categories, lower-priced watches lost traction in December. Exports of watches valued under $214 (CHF 200) were down 16%, while those priced at $214 to $534 (CHF 500) fell 3%. Higher price ranges continued to advance: Shipments of watches valued between $534 and $3,206 (CHF 3,000) rose 6%, and timepieces worth more than $3,206 climbed 0.3%.

Image: Parmigiani Fleurier
Tags: China, Federation of the Swiss ‎Watch Industry, Hong Kong, precious-metal watches, Rapaport News, swiss watch, Swiss watch exports, watches
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