Numbers released by the Federation of the Swiss Watch Industry (FHS) show that the country’s watch exports rose 4.2% in August, year-on-year, to $1.46 billion (CHF 1.42 billion). This is the fourth consecutive month of growth. According to the FHS, “the overall trend is one of continuing recovery driven by half of the principal markets”.
The biggest driver of growth were, once again, precious metal watches priced at over 3000 francs, while watches costing less than 200 francs continued to decline.
Hong Kong (+2.7%) tracked the world average and also achieved a fourth positive month in succession. The United States (-4.9%) failed to clearly confirm its recovery. After three balanced months, the downward trend resumed in the US. China experienced a 3.3% growth, and the UK (+6.9%) “returned to its usual progression”. Germany (+7.6%), Japan (+8.3%) and Italy (+5.1%) also reported growth.
