Higher monthly value – exports are improving steadily
The recovery of watch industry exports continued with a positive trend in June. The value of products crossing the Swiss border stood at 1.7 billion francs, 5.3% higher than in June 2016. This increase follows the good result posted one month previously.
Growth was sustained on several markets. Italy (+16.5%) reported a second month of strong growth with a substantial further upturn. The United Kingdom (+35.6%) benefited again from its currency and recorded the strongest growth for more than two years. After three months of exceptional performance, China (+11.5%) continued to grow and completed an excellent first half. Hong Kong (+4.6%) was closer to the
global average and further strengthened its recovery. The United States (-1.3%) saw no change in itsgeneral situation with a slight fall in June. Sharply lower, Japan (-15.4%) remained in the red.
Watches in precious metals and steel made astrong contribution to the overall growth in value while other materials, such as bimetal products,declined.