Swiss watch exports to the United States rose for a fourth consecutive month in May.
Exports in May rose by 10% over the same month in 2017 to CHF 187.5 million, a YoY rise of CHF 17 million.
Swiss watch exports are 9.8% higher for the first five months of 2018, compared to the same period last year.
Globally, the Swiss watch industry exports continued to grow in May, according to the Federation of Swiss Watch Industry. “Despite an unfavourable base effect and one fewer working day, exports gained 5.3% against May 2017, reaching a value of CHF 1.8 billion. In cumulative terms, growth has slackened slightly since the beginning of the year (+9.9%), while remaining at a very high level,” the Swiss authority says.
Hong Kong reported a very strong rise (+26.0%) and accounted for just under two-thirds of global growth. “The United States (+9.8%) maintained good momentum and is now was the second largest market in the world in May,” the Federation says.
Growth in China (+5.8%) slackened slightly, while remaining at a high level in terms of the year on year variation. The early 2018 recovery in Italy came to an abrupt end in May with a sharp downturn (-21.2%) compared to the same month in 2017.