Sharp monthly rise of Swiss watch exports en May 2019
Exports in the sector rose steadily in May (+11.4%) to more than 2 billion francs. The increase was driven by an additional business day, and by an exceptional export of alarm clocks and small clocks. Underlying growth in the sector was between +8 and +9%, as evidenced by the increase in watch exports. Performance remained sharply polarised in terms of price segments. Watches priced below 200 francs (export price) continued to lose ground, falling by 16.1% by the number of items. At the other extreme, timepieces priced over 3,000 francs recorded double-digit growth. The vast majority of markets saw an increase during May. Hong Kong (-7.0%) was a major exception, recording a decline for the second consecutive month and confirming the downward trend seen since the start of the year. China (+81.0%) was boosted by the exceptional export of alarm clocks and small clocks, but would have recorded very strong growth even without it. Among the other Asian markets, Japan (+39.8%), Singapore (+24.9%) and the United Arab Emirates (+44.6%) all saw significant gains. The United States (+10.4%) was close to the global average, as was France (+10.9%).