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%.
