News

Advanced Search

High-End Watches Drive Export Growth

Jul 26, 2018 7:00 AM   By Rapaport News
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share


RAPAPORT... Swiss-watch exports grew 12% in June amid an upturn in demand for higher-priced products.

Global shipments of Swiss timepieces came to $1.95 billion (CHF 1.94 billion) for the month, the Federation of the Swiss Watch Industry reported last week.

Exports of watches with a wholesale price above $3,024 (CHF 3,000) saw the strongest growth, climbing 17%. Shipments of timepieces valued between $504 (CHF 500) and $3,024 increased 9%.

“Exports rose strongly in June, improving on the average figure reported in previous months,” the federation noted. As a result, first-half shipments exceeded the $10.08 billion (CHF 10 billion) mark, which has not happened since 2015, it added.

Demand for lower-priced goods weakened, with exports of watches priced under $504 seeing a substantial downturn, the federation said. Shipments of pieces under $202 (CHF 200) slid 10%, while those priced between $202 and $504 dropped 6%.

Watches containing gold and steel remained popular, with exports up 18% to $302.6 million (CHF 300.2 million), while supply of precious-metal timepieces climbed 12% to $625.4 million (CHF 620.4 million). Those increases slightly outweighed a decline in shipments of watches from metals other than precious ones or steel, which dropped 3% to $91.4 million (CHF 90.7 million). Exports of timepieces made from materials other than metal rose 24% to $54.3 million (CHF 53.9 million).

Total exports to Hong Kong jumped 39% to $272.5 million (CHF 270.3 million), while supply to China rose 4% to $124.9 million (CHF 123.9 million), a slowdown compared with the 6% increase the market saw in May. Shipments to the US grew 6% to $190.9 million (CHF 189.4 million). Exports to France saw the strongest growth out of the major markets, jumping 41% to $131 million (CHF 130 million).

Image: Torange.biz
Tags: Federation of the Swiss ‎Watch Industry, Rapaport News, Swiss watches
Similar Articles
BaselworldBaselworld Looks to Reduce Prices
Sep 12, 2018
Baselworld is proposing to lower prices for exhibitors and visitors in an attempt to reinvigorate the annual watch and
Patek Philippe BaselworldThere’s Life in Baselworld Yet
Mar 28, 2018
Baselworld 2018, which ended Tuesday, saw a year-on-year decline from 1,300 exhibitors to approximately 650, and
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2018 by Martin Rapaport. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are TradeMarks of Martin Rapaport.
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.