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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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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
Tags: Baselworld, Federation of the Swiss ‎Watch Industry, Hong Kong, Rapaport News, swiss watch, Swiss watch exports, US
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