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Swiss Watch Shipments Sped Up in November

Industry records fastest growth rate in two years.
Dec 20, 2018 7:57 AM   By Rapaport News
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 Swiss watch exports grew last month at their fastest rate for two years amid an upturn in orders from the US and increased shipments of high-end timepieces.

Total exports rose 3.9% year on year to CHF 2.06 billion ($2.09 billion) for the month, the Federation of the Swiss Watch Industry reported Thursday.

“The strongest increase was in the US, the second-most important market, again reinforcing the upswing that has continued since the beginning of the year,” the federation said.

Exports to the US jumped 18% to CHF 231.4 million ($234.4 million). Shipments to Hong Kong, the Swiss trade’s largest export market, increased 10% to CHF 287.1 million ($290.8 million), while orders from China went up 15% to CHF 187.4 million ($189.8 million).

Total shipments of watches priced above CHF 3,000 ($3,039) climbed 8% by value, while exports of those worth less than CHF 200 ($203) dropped 13%. Shipments of timepieces priced at CHF 200 to CHF 500 ($506) fell 14%, and those valued between CHF 500 and CHF 3,000 slipped 1%.

Exports of gold and steel watches rose 14% to CHF 311.2 million ($315.2 million). Supply of timepieces made from precious metals grew 7% to CHF 667.1 million ($675.7 million), while shipments of steel watches remained flat at CHF 806.6 million ($817.1 million).

Image: A store selling Swiss luxury watches in Milan. (Shutterstock)
Tags: Federation of the Swiss ‎Watch Industry, Rapaport News, Swiss watch exports
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