Swiss Watch Exports See Strongest February Ever

RAPAPORT... Swiss watch exports surged sharply in February as demand rose in nearly every market, generating the best performance for the month the sector has seen.

Global shipments increased 24% year on year to CHF 1.99 billion ($2.14 billion) for the month, the Federation of the Swiss Watch industry reported last week. 

"Swiss watch imports grew very strongly in February," the federation noted. "All the main markets produced double-digit growth. The US achieved particularly strong performance in spite of a negative base effect, as did China."

Supply to the US jumped 33% to CHF 298.9 million ($320.8 million), and orders from China climbed 22% to CHF 234.5 million ($251.7 million). Hong Kong saw its first rise since June, with exports up 12% to CHF 174.4 million ($187.4 million), while all European markets saw a strong rebound from the previous year. Those rises outweighed a 12% drop in shipments to Saudi Arabia.

Exports of watches priced over CHF 3,000 ($3,224) saw the most significant spike, growing 28%. Shipments of timepieces valued between CHF 500 ($537) and CHF 3,000 were up 16%, and those in the CHF 200 ($215) to CHF 500 range inched up 4%. Supply of watches under $200 advanced 6%. Image: A Swiss watch display. (Shutterstock)