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World Makes More Time for Swiss Watches

Strong growth in China drives timepiece recovery in November.
Dec 21, 2017 9:15 AM   By Rapaport News
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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%.
Tags: China, Federation of the Swiss ‎Watch Industry, Hong Kong, Japan, Rapaport News, Swiss watch exports, Swiss watches, Switzerland, timepieces, watches
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