Substantial growth for Swiss watchmaking in July
Watch industry exports continued to report significant growth in July, after an excellent first half. With a gain of 6.6% against July 2017 they were worth 1.8 billion francs. Cumulative results since the beginning of the year are therefore still substantially higher (+10.0%). Watches priced at less than 200 francs (export price) reported strong growth. The 200 to 500 francs category fell for the second month in a row. Substantial gains made by timepieces priced above 500 francs boosted the overall result. Several major markets expanded strongly while others remained stable or fell back. Leading the field, Hong Kong alone (+26.8%) generated 37% of overall worldwide growth. The United States (-0.7%) and China (-0.4%) failed to benefit from the same dynamic. After growing strongly for ten months, Japan (+16.6%) further strengthened its positive trend.