The Federation of the Swiss Watch Industry has reported that following 20 consecutive months of decline, exports of Swiss watches rose 7.5% year-on-year to $1.59 billion in March. According to Rough & Polished, “export in volume terms of wristwatches increased 8.5% to 2 million units”.
According to the report, “After nearly two years, the Swiss watch industry saw recovery in China’s and Hong Kong’s watch and jewelry markets”. Exports to Hong Kong were up 18% to $209.7 million; exports to the US rose 5.6% to $170.5 million; and exports to China rose 38% to $129.7 million.
According to the Federation, “Hong Kong, which had been showing signs of recovery for some time, ended 25 months of steep decline. The recovery experienced by China since last summer was further strengthened by substantial growth”.
