Swiss Watch Trade Ticking Along Nicely

RAPAPORT... Swiss-watch exports grew 5% in May amid stronger demand ingreater China and the US.Global shipments of Swiss timepieces came to $1.82 billion(CHF 1.8 billion) for the month, the Federation of the Swiss Watch Industry reported last week.Exports to Hong Kong leaped 26% year on year to $286.3 million (CHF 282.8million), with shipments to China up 6% to $124.1 million (CHF 122.6 million) -a slower increase than April's 11%. Supply to the US continued to grow,climbing 10% to $189.8 million (CHF 187.5 million) for the month. "Growth has slackened slightly since the beginning of theyear, while remaining at a very high level," the federation noted. Exportsadvanced 10% in the first five months of 2018, with the sector recordingdouble-digit year-on-year growth in January, February and April, and moremodest increases in March and May. May was a strong month for exports of watches containingsteel and gold: Shipments of steel timepieces increased 8% to $708.6 million(CHF 700 million), while exports of watches made from both gold and steel rose9% to $282.9 million (CHF 279.4 million). Supply of precious-metal watchescrept up 1.8% to $595.5 million (CHF 588.2 million). Mid-range watches - those with an export price of $506 to $3,037(CHF 500 to CHF 3,000) - saw the sharpest rise, up 9% by value. Shipments of timepiecesworth less than $202 (CHF 200) increased 8%, while those priced at $202 to $506recorded a slight improvement of 0.3%. Exports of watches above $3,037 climbed4.8%.