Swiss watch exports continue the positive trend: Spurred by improved demand from several countries, including China and Hong Kong, exports rose 5.3% to $1.83 billion (CHF 1.728 billion) in June, according to multiple news sources. June marks the third consecutive month of year-on-year growth since the beginning of 2017.
The rise in June was driven by a rise of 4.6% in shipments to Hong Kong, while shipments to China grew 11.5%. Shipments to Italy rose 16.5%, and exports to the UK jumped by 35.6% during June. meanwhile, exports to the US slipped 1.3% during the same period.
The Federation of the Swiss Watch Industry remarked: “Watches in precious metals and steel made a strong contribution to the overall growth in value while other materials, such as bimetal products, declined. Volumes remained stable overall. The increase for timepieces made of steel offset the decline in the other metals and other materials categories”.
