Swiss Watch Exports See Gains in Key Markets

Swiss watch exports improved in February as the US, Japanese and French markets recorded strong growth that shifted the balance from the previous month.

Shipments of luxury timepieces rose 9% to CHF 2.17 billion ($2.74 billion) for the month, the Federation of the Swiss Watch Industry reported Thursday. The increase followed a 3.6% dip in January.

“Performance was particularly strong in the United States, which continues to seesaw, [and in] Japan and France for the third consecutive month,” the federation stated. “The latter trend is not explained by an increase in the domestic market and probably reflects transit via France to other destinations. The situation in Hong Kong and China remained fragile, despite the fact that positive performance in January had suggested a more positive outlook.”

Exports to the US climbed 27% to CHF 431.5 million ($554.8 million), and those to Japan were up 24% to CHF 155.9 million ($196.8 million). Supply to France spiked 57% to CHF 152.7 million ($192.8 million), while Hong Kong saw a 5% dip to CHF 146.5 million ($185 million). Orders to the UK advanced 10% to CHF 142.3 million ($179.7 million), as shipments to Singapore rose 5% to CHF 135.7 million ($171.3 million).

Timepieces improved in all four price categories. Watches valued below CHF 200 ($252) increased 4%, while those ranging from CHF 200 to CHF 500 inched up 0.7%. Units priced between CHF 500 ($631) and CHF 3,000 ($3,787) jumped 19%, and pieces above CHF 3,000 rose 9%.

In the first two months of the year, exports were up 2.8% to CHF 4.09 billion ($5.16 billion).

Image: A display of Swiss watches. (Shutterstock)