US Market Buoys Swiss Watch Exports

RAPAPORT… Swiss watch
exports jumped 10% to CHF 1.82 billion ($1.84 billion) in September, as orders from the US
continued to grow.



Shipments to the US rose 15% year on
year to CHF 214.8 million ($217.4 million), making it Switzerland’s largest export market for timepieces for the third month this year, the Federation of the Swiss Watch Industry said last week. Exports to China jumped 26% to
CHF 162 million ($163.9 million), and those to Japan spiked 31.6% to CHF 146.8 million
($148.5 million).



Of the six
core countries the Swiss watch market serves, only Hong Kong saw a drop, with exports
falling 4.6% to CHF 196.7 million ($199 million) for the month.



“Swiss watch
exports benefited from an additional working day and a favorable base effect in
September,” the federation said.



A large share
of the growth was
driven by higher-value timepieces, the federation noted, with the supply of watches priced over CHF 3,000 ($3,034) going up 17%. Items worth below CHF 200 ($202) declined
by 8%, while those in CHF 500 ($506) to CHF 3,000 bracket fell 2.9%. Demand for watches valued between CHF 200
and CHF 500 saw a slight rebound for the second consecutive month, increasing
2.2%.



Exports of watches made of precious metal
rose 14% to CHF 566.4 million ($573
million), continuing their upward trend. Bimetal shipments grew 25.6% to CHF
344.7 million ($348.7 million).



In the first
nine months of the year, exports climbed 2.8% to CHF 15.9 billion ($16.08
billion).



Image: Swiss watches in a store window. (Shutterstock)