Swiss Watch Exports Surge in Asian Markets

RAPAPORT... Swiss watch exports grew in January, driven by higher Asian demand, the Federation of the Swiss Watch Industry reported. Exports increased 13% year on year to $1.73 billion (CHF 1.62billion) in January. Shipments to Hong Kong climbed 21% to $258.5 million (CHF242.2 million), its highest monthly rise in five years. Supply to China jumped43% to $188.7 million (CHF 176.8 million), surpassing the US, where watchexports have declined over the past two years, falling 1.9% for the month to $174.1 million (CHF163.1 million). Globally, exports of watches priced under $213 (CHF 200) dropped3.5% by value in January, continuing a two-year downward trend. Higher price rangesall saw an increase in shipments, with exports of timepieces that cost between $213 and$534 (CHF 500) rising 12%. Exports of those goods priced from $534 to $3,201 (CHF 3,000) jumped 21%, and supply of those worth more than $3,201 grew 10%.Image: Creative Lab/Shutterstock