The year has started on a more optimistic note for the Swiss watch industry, with the FH reporting that watch industry exports rose in January, with a value of 1.6 billion CHF, a 12.6% growth against January 2017.
Meanwhile, total global exports for the Swiss watch industry are reported to have risen year-on-year by 12.6% to CHF 1.6 billion.
After declining for more than two years, watches costing less than 200 CHF (export price) continued to fall last month, but all the other segments showed growth.
Hong Kong (+21.3%) posted its highest monthly increase for over five years. China (+44.3%) overtook the U.S. (-1.9%), which has continued its decline. Japan (+12.9%) also showed strong rowth.
European markets did not perform as well as Asian markets, with the U.K. +4.6%, Germany -4.1%, and Italy -4.7%. France (+19.0%) was a notable exception. This may be due to the return of Chinese tourists to France during the last year, with a report by the French trade association for the watch and jewellery industry saying that sales of watches over 5000 EUR rose by 8% during 2017.