Hong Kong and US Boost Swiss Watch Trade

RAPAPORT… Swiss watch exports increased in February, driven by the
strongest monthly growth in shipments to Hong Kong and the US in six years.


Worldwide shipments of Swiss timepieces climbed 13% year on
year to $1.78 billion (CHF 1.69 billion) last month, the Federation of the Swiss Watch Industry reported Tuesday. Exports to Hong Kong
jumped 36% to $268.1 million (CHF 255.2 million), while those to the US soared 26%
to $196.1 million (CHF 186.7 million). Supply to China grew 22% to $137.6
million (CHF 131 million).



Globally, exports of watches worth over $3,151 (CHF 3,000) went
up 13% by value in February. Shipments of timepieces priced under $210 (CHF 200) rose
8%, after more than a year of declines. Mid-priced ranges all saw moderate
increases in shipments, with exports of goods that cost between $210 and $525
(CHF 500) increasing 9%, and those priced between $525 and $3,151 (CHF 3,000)
gaining 19%.


The improvement in the market comes ahead of the Baselworld
show, an important event in the watch and jewelry industry. The exhibition begins
Thursday and runs through next Tuesday.


Image: Courtesy of Baselworld