Hong Kong Powers Swiss Watch Exports

RAPAPORT… Asian demand drove a 7% increase in Swiss watch exports in July,
according to data the nation’s timepiece association released Tuesday.



Total shipments rose to $1.84 billion (CHF 1.82 billion),
the Federation of the Swiss Watch Industry reported. Orders from Hong Kong, the
Swiss trade’s largest market, jumped 27% to $263.8 million (CHF 259.8 million),
while supply to Japan grew 17% to $119.8 million (CHF 118 million). Those rises
outweighed declines in exports to the US and China.


“Watch-industry exports continued to report significant
growth in July, after an excellent first half,” the federation said.


The strongest increases were in the highest- and lowest-end
categories. Total shipments of wristwatches with an export price of more than
$3,047 (CHF 3,000) rose 8% by value in July, while orders of pieces wholesaling
at less than $203 (CHF 200) gained 11%.


Global Swiss watch exports rose 10% to $12.53 billion (CHF
12.34 billion) in the first seven months of 2018, the federation added.