Exports of Swiss watches to the United States rose by 4.1% to CHF 177 million in March compared to the same month in 2017.
It is the second consecutive annual increase for the US market, contributing to a rise in exports of Swiss watches of 8.9% in the first quarter of this calendar year.
The United States remains the second biggest watch market in the world for Swiss watches, trailing only Hong Kong, which imported products worth CHF 230.3 million in March, a 10.2% rise.
In its monthly summary of global exports, the Federation of the Swiss Watch Industry says:
“Hong Kong (+10.2%) has been reporting sustained and uninterrupted growth for nearly one year. The United States (+4.1%) posted a second month with a gain equivalent to the global average although the country is still affected by an overall downward trend.
“Penalized by an unfavourable base effect, China (-6.9%) reported its first fall in 18 months; however, this had no significant impact on its general trend. The recovery in Japan was confirmed again in March (+13.3%). The situation in Singapore (+8.4%), Germany (+5.2%), France (+12.6%) and South Korea (+33.5%) continued to improve to varying degrees. On the other hand, Italy (-6.4%) and the United Kingdom (-22.3%) confirmed the fact that the start of the year 2018 is proving more challenging.”