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Swiss watch industry sees growth in Asia

3-2-2018

 

The Federation of the Swiss Watch Industry (FH) reported a strong growth in the second half of 2017, credits to Asian buyers especially from Hong Kong and mainland China.

 

After almost two years of dropping exports for Swiss watches, a year-on-year (yoy) improvement of 2.7 percent recorded. Total exports reached US$21.2 billion in 2017. Luxury watch shipments increased by 0.7 percent along in the Christmas month. Shipments to China boosted 19 percent to US$1.64 billion, while supply to Hong Kong climbed 6 percent to US$2.7 billion.

 

“The main Asian markets generally saw steep increases in the final months of the year. The US still seems to be in the doldrums,” the federation added.

 

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