Hong Kong and US Boost Swiss Watch Exports

RAPAPORT... Swiss watch exports increased in February, driven by thestrongest monthly growth in shipments to Hong Kong and the US in six years, theFederation of the Swiss Watch Industry reported Tuesday. Worldwide shipments of Swiss timepieces climbed 13% year onyear to $1.78 billion (CHF 1.69 billion) last month. Exports to Hong Kongjumped 36% to $268.1 million (CHF 255.2 million), while those to the US soared 26%to $196.1 million (CHF 186.7 million). Supply to China grew 22% to $137.6million (CHF 131 million). Globally, exports of watches worth over $3,151 (CHF 3,000) wentup 13% by value in February. Shipments of timepieces priced under $210 (CHF 200) rose8%, after more than a year of declines. Mid-priced ranges all saw moderateincreases in shipments, with exports of goods that cost between $210 and $525(CHF 500) increasing 9%, and those priced between $525 and $3,151 (CHF 3,000)gaining 19%. The improvement in the market comes ahead of the Baselworldshow, an important event in the watch and jewelry industry. The exhibition beginsThursday and runs through next Tuesday.Image: Courtesy of Baselworld