USA consolidates position as second largest market for Swiss watches

The USA has consolidated its position as the second largest market for Swiss watches, with the value of sales increasing a healthy 13% over last year in April.

New data from the Federation of the Swiss Watch Industry shows that overall exports were up 13.8% in April compared to the same month in 2017.

This represented a total value of 1.76 billion francs in April and 6.7 billion francs for the January – April 2018 period, which was an 11% increase year-on-year, in large part down to Hong Kong’s phenomenal 43.4% growth.

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The figures painted a particularly positive picture for the US market, with April being up 12.8% on last year and the January – April figure being up 9.8% too.

This is a great bounce back for the US after Swiss watch exports to the country dipped significantly in 2017.

Other countries worthy of note are Qatar (up 159.6%), South Korea (up 57.1%), and India (up 62.6%). The big winner was Hong Kong, the largest importer of Swiss watches, which grew some 43%.

After a largely positive Baselworld exhibition and with the ‘big three’ territories (Hong Kong, USA and China) all back to double digit growth in terms of exports, the Swiss watch industry has cause for optimism for the rest of the year.

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