Hong Kong Powers Swiss Watch Exports

RAPAPORT Asian demand drove a 7% increase in Swiss watch exports in July, according to data the nation's timepiece association released Tuesday Total shipments rose to $1.84 billion, the Federation of the Swiss Watch Industry reported Orders from Hong Kong, the Swiss trade's largest market, jumped 27% to $2638 million, while supply to Japan grew 17% to $1198 million.

Those rises outweighed declines in exports to the US and China "Watch-industry exports continued to report significant growth in July, after an excellent first half," the federation said The strongest increases were in the highest- and lowest-end categories.

Total shipments of wristwatches with an export price of more than $3,047 rose 8% by value in July, while orders of pieces wholesaling at less than $203 gained 11% Global Swiss watch exports rose 10% to $12.53 billion in the first seven months of 2018, the federation added. . Source