Advanced Search

Swiss Watch Trade Ticking Along Nicely

Jun 24, 2018 7:13 AM   By Rapaport News
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share

RAPAPORT... Swiss-watch exports grew 5% in May amid stronger demand in greater China and the US.

Global shipments of Swiss timepieces came to $1.82 billion (CHF 1.8 billion) for the month, the Federation of the Swiss Watch Industry reported last week. Exports to Hong Kong leaped 26% year on year to $286.3 million (CHF 282.8 million), with shipments to China up 6% to $124.1 million (CHF 122.6 million) — a slower increase than April’s 11%. Supply to the US continued to grow, climbing 10% to $189.8 million (CHF 187.5 million) for the month.

“Growth has slackened slightly since the beginning of the year, while remaining at a very high level,” the federation noted. Exports advanced 10% in the first five months of 2018, with the sector recording double-digit year-on-year growth in January, February and April, and more modest increases in March and May.

May was a strong month for exports of watches containing steel and gold: Shipments of steel timepieces increased 8% to $708.6 million (CHF 700 million), while exports of watches made from both gold and steel rose 9% to $282.9 million (CHF 279.4 million). Supply of precious-metal watches crept up 1.8% to $595.5 million (CHF 588.2 million).

Mid-range watches — those with an export price of $506 to $3,037 (CHF 500 to CHF 3,000) — saw the sharpest rise, up 9% by value. Shipments of timepieces worth less than $202 (CHF 200) increased 8%, while those priced at $202 to $506 recorded a slight improvement of 0.3%. Exports of watches above $3,037 climbed 4.8%.
Tags: China, Federation of the Swiss ‎Watch Industry, Rapaport News, Swiss watch exports, Swiss watches, Switzerland, trade data, US
Similar Articles
WatchmakerWatch Exports to Hong Kong and US Still Weak
Jul 21, 2020
Swiss watch exports dropped heavily in June as continued slowdowns in Hong Kong and the US outweighed a recovery
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2021 by Rapaport USA Inc. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are registered TradeMarks.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.