World Makes More Time for Swiss Watches

RAPAPORT… Swiss watch exports continued to rebound in November as shipments to China grew by the highest margin in more than two years.



Total exports across all watch categories rose 6% year on year to $2 billion (CHF 1.98
billion), the Federation of the Swiss Watch Industry announced Thursday.



Hong Kong recorded its eighth positive month for the year,
with a 4% rise to $263.1 million (CHF 259.7 million), while exports to China
surged 40% to $164.8 million (CHF 162.7 million). Japan saw a jump of 23% to
$125.7 million (CHF 124.1 million), linked to higher demand brought about by
increased tourism. The US, the second-largest market for Swiss watch
exports, is continuing to recover, though it still recorded a modest 0.4%
decline to $199.4 million (CHF 196.8 million).



All watch materials saw overall growth, with steel
timepieces showing the largest increase in exports at 8%. As for price
categories, exports of watches valued under $203 (CHF 200) dropped 11%, while
higher price ranges all advanced. Shipments of watches with a price tag of $203 to $507 (CHF 500) rose 19%, and those between $507 and $3,039 (CHF 3,000) grew 11%. Exports of timepieces worth more than $3,039 climbed 4%.