Swiss watch exports rebounded by 4.5% in April following a 16% decline in March amid positive demand in Hong Kong.
According to the data published by the Federation of the Swiss Watch Industry cited by Rapaport, the sales of Swiss watches for the reporting month amounted to $2.37 billion, although the rise was only observed in the most luxurious category of timepieces that cost more than CHF3,000 ($3,311).
In China, the second-largest market, demand dropped by 8% to $206.5 million, while in Hong Kong they amounted to $187.2 million. Sales to the US increased 12% to $373.5 million.
“Swiss watch exports revived in April following the marked decline seen in the previous month,” the federation noted. “Out of the 10 main markets, only China lost ground compared with April 2023, while Hong Kong remained stable. Other Asian markets achieved double-digit growth. The US, which is always well ahead, also proved highly dynamic.”
In the first four months of the year, exports declined 2.6% to $9.18 billion.
Theodor Lisovoy, Editor in Chief, Rough&Polished
