Official figures released today confirms the US market has achieved its strongest monthly advance for six years
The value of Swiss watch exports to the USA rose an impressive 26.3% in February, consolidating the market’s status as the second largest behind Hong Kong.
More than 1.9 million units were shipped globally during the month, with the value of the market reaching CH71.7 billion ($75.1 billion), according to data released by the Federation of the Swiss Watch Industry today.
The USA was among a number of markets to report much stronger growth than the global average. Sales reached CHF186.7m ($195.6m), an increase of $42m on the same month last year. It is the strongest monthly advance for six years.
Overall it was a good month for the Swiss watch industry heading into Basel, where this week the world’s top watch brands will come together for the annual trade fair.
Growth extended to all price segments led by watches with an export price of between CHF500 and CHF3,000 ($524 and $3,143), where the value of sales rose 19%.
Timepieces priced at more than CHF3,000 fell within the average range. Products costing less than CHF200 ($210) achieved 8% growth after falling sharply for more than a year.
The Hong Kong market (up 35.7%) once again showed its resilience, while China (up 21.7%) also exceeded the 20% growth mark despite an unfavourable base effect.
Only the UK (down 16.8%) and Italy (down 13%) saw a decline in value out of the top 10 markets.