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Hong Kong Boosts Swiss Watch Sector

May 29, 2018 6:31 AM   By Rapaport News
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RAPAPORT... Resurgent Hong Kong demand drove a sharp rise in global Swiss-watch exports in April, according to data from the Federation of the Swiss Watch Industry.

Worldwide shipments of Swiss timepieces climbed 14% year on year to $1.8 billion (CHF 1.81 billion) last month, the trade organization reported Tuesday. Exports to Hong Kong jumped 43% to $261.3 million (CHF 259.5 million) — a rate that was three times higher than the world average. Shipments to the US rose 13% to $176.9 million (CHF 175.7 million), while supply to China increased 11% to $139.8 million (CHF 138.8 million).

Exports of steel watches soared 17% to $693.6 million (CHF 688.9 million), while exports of gold and steel timepieces climbed 9% to $279.1 million (CHF 277.2 million). Shipments of timepieces made of precious metals went up 13% to $552.2 million (CHF 548.4 million).

Globally, shipments of all value categories increased, with the largest growth coming from the higher-priced classes. Exports of those worth under $201 (CHF 200) and those valued between $201 and $503 (CHF 500) rose 8%, while those that cost from $503 to $3,021 (CHF 3,000) grew 16%, and those over $3,021 jumped 15% during the month.

Image: Max Pixel
Tags: Federation of the Swiss ‎Watch Industry, Rapaport News, swiss watch
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