Swiss Watch Exports Tick Ahead Nicely in April

by swisscham in Business

Exports of Swiss watches rose nearly 14% year on year in April, trade figures showed, aided by strong demand from prime market Hong Kong. “After a relatively calm March, growth moved ahead strongly in April,” the Federation of the Swiss Watch Industry said, noting exports for the first four months of the year rose 11% on the same period of 2017 to CHF 6.7 billion (EUR 5.8 billion, USD 6.75 billion). March growth had been tepid at 4.8%, down on January’s 12.6% and February’s 12.9%. April’s recovery of 13.8% saw exports hit 1.76 billion francs, driven by a healthy 43.4% rise in sales Ð a six-year high Ð to Hong Kong, a lucrative Asian market hub. Other key markets also saw large rises, with exports to China and the United States clocking up increases of 11% and 12.8% respectively. Europe was a mixed picture with German sales up 12.8% but sliding 14.7% in Britain, continuing a recent trend as the United Kingdom wrestles with Brexit. The global picture has been healthier since a difficult period across 2015 and 2016 saw the sector take a hit after China introduced anti-counterfeiting measures, helping knock back sales of luxury goods.

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