Swiss watch exports: what’s up?
Swiss watch exports were average in August. The value of exports was 1.5 billion francs, an increase of 1.5% compared with August 2018. The sector therefore remains on a slightly upward trend, in a still relatively challenging context, depending on the market. Eight months into the year, growth is at +1.9%. Performance varied widely across the main markets. In the United States (+14.8%), growth continued to increase regularly, making it the top export market in August. In Asia, Hong Kong (-12.7%) continued on a downward trend, but avoided another sharp fall, as had been feared. China (+13.7%) again produced strong growth, while Japan (+34.5%) soared. Europe (-2.7%) saw an overall decline.