23-8-2018
Federation of the Swiss Watch Industry FH reported that the country’s watch exports in July 2018 continued to grow significantly, after a satisfactory first half. With a gain of 6.6 percent against July 2017, they were worth 1.8 billion francs. Cumulative results since the beginning of the year are therefore still substantially higher with a 10-percent increase.
Hong Kong alone generated 37 percent of overall growth, soared by 26.8 percent yoy to US$263.8 million or CHF 259.8 million. The same dynamic was also witnessed in Japan where the supply jumped 16.6 percent to US$119.8 million or CHF 118 million. United States (-0.7 percent) and China (-0.4 percent) failed to benefit from this dynamic, but the level was comparable to that of July 2017. While the exports to the United Kingdom increased by 7.6 percent, other European markets moved in the opposite direction, with the case in particular for France (-1 percent), Italy (-9.1 percent) and Germany (-8.6 percent).
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