Hong Kong Boosts Swiss Watch Sector

RAPAPORT... Resurgent Hong Kongdemand drove a sharp rise in global Swiss-watch exports in April, according todata from the Federation of the Swiss Watch Industry. Worldwide shipmentsof Swiss timepieces climbed 14% year on year to $1.8 billion (CHF 1.81 billion)last month, the trade organization reported Tuesday. Exports to Hong Kongjumped 43% to $261.3 million (CHF 259.5 million) - a rate that was three times higherthan the world average. Shipments to the US rose 13% to $176.9 million (CHF175.7 million), while supply to China increased 11% to $139.8 million (CHF 138.8million). Exports of steelwatches soared 17% to $693.6 million (CHF 688.9 million), while exports of goldand steel timepieces climbed 9% to $279.1 million (CHF 277.2 million).Shipments of timepieces made of precious metals went up 13% to $552.2 million (CHF548.4 million). Globally, shipmentsof all value categories increased, with the largest growth coming from thehigher-priced classes. Exports of those worth under $201 (CHF 200) and thosevalued between $201 and $503 (CHF 500) rose 8%, while those that cost from $503to $3,021 (CHF 3,000) grew 16%, and those over $3,021 jumped 15% during themonth. Image: Max Pixel