A Richard Mille watch

SWISS WATCH EXPORTS SEE SHARP RISE IN MAY

The Federation of the Swiss Watch Industry has released numbers indicating that watch exports rose strongly in May. Year-on-year, exports rose 9% to $1.75 billion (1.7 billion CHF). According to a press release, “this was the second positive month after March, confirming the recovery which has been under way since the start of the year”.

 

The rise in overall exports was driven by strong growth in Hong Kong (+18.1%) and China (+34.4%). Shipment to Japan declined (-3.2%), as did exports to the US (-1.1%). The US numbers, according to the federation, maintain “the negative trend that has affected the country for more than one year”. In Europe, the four leading markets all reported growth – Italy (+26.7%), the United Kingdom (+12.9%), France (+9.5%) and Germany (+3.7%).

 

In March, the Federation of the Swiss Watch Industry reported that following 20 consecutive months of decline, exports of Swiss watches rose 7.5% year-on-year to $1.59 billion. 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 in March; exports to the US rose 5.6% to $170.5 million; and exports to China rose 38% to $129.7 million.

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