RapNet


Rapaport News

 

Retail

 
Rapaport Broadcast
Martin Rapaport’s Webinar on Estate Jewelry
October 30 2019

Advanced search
Latest Articles
Videos
Features
News
Mining
Rough Markets
Polished Markets
Manufacturing
Retail

Swiss Watches See Highest Growth in Six Years

Exports increase 10% in the first three months.
Apr 25, 2018 7:11 AM   By Rapaport News
Print Print Facebook Facebook Twitter Twitter Share Share


RAPAPORT... Robust demand for steel watches drove Swiss timepiece exports upward in March, closing off the industry’s strongest quarter of growth in six years.

Worldwide shipments of Swiss timepieces climbed 5% year on year to $1.73 billion (CHF 1.7 billion) last month, the Federation of the Swiss Watch Industry reported Tuesday. Exports to Hong Kong jumped 10% to $234.5 million (CHF 230.3 million), while those to the US climbed 4% to $180.3 million (CHF 177 million). Supply to China dropped 7% to $122.5 million (CHF 120.3 million), the first fall in 18 months.

Exports of steel watches soared 7% to $664.1 million (CHF 652.1 million), while gold and steel timepieces showed moderate growth, increasing 3% to $266.6 million (CHF 261.8 million). Shipments of watches made of precious metals remained flat at $509.6 million (CHF 500.4 million).

Globally, lower-priced pieces faltered, with exports of watches worth under $204 (CHF 200) slipping 8% by value in March, while those priced between $204 and $509 (CHF 500) declined 4%. Shipments of higher-priced timepieces fared better, with those that cost between $509 and $3,055 (CHF 3,000) growing 13%, and those over $3,055 gaining 2%.

Total exports for the first quarter jumped 10%, the highest quarterly growth rate since June 2012, the federation said.

Image: Baselworld
Tags: Federation of the Swiss ‎Watch Industry, Rapaport News, Swiss watches
Similar Articles
Hong Kong retail dataHong Kong Luxury Retail Sales Plunge
Dec 02, 2019
Sales of jewelry and other luxury items in Hong Kong slid...
Tiffany, Pandora Receive Top Sourcing Scores
Hong Kong Troubles Weigh on Luk Fook
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First



Call Us: 1-702-893-9400
Member License Agreement   RapNet Trading Rules & Code of Conduct    Privacy Policy  
  
twitter twitter
About Rapaport
Advertise with us