Finally after 20 months of subdued numbers the Swiss Watch industry exports saw their first monthly rise in March . Their value stood at 1.6 billion Swiss francs, 7.5% higher than in March 2016. This small spike up could be due to the base effect and two extra working days.
Watches priced between 200 and 500 francs grew by over 20%. Products priced at less than 200 francs saw their value decline slightly (-2.0%), but with rising volumes (+6.2%). Above 500 francs, the advance was close to the general average
The five main markets reported strong gains in March while the next five showed a negative trend.
Hong Kong, which had been showing signs of recovery for some time, ended 25 months of a steep decline in March (+18.1%).
The United States continued its hesitant progression with a good monthly result (+15.6%), but a distinctly negative medium-term trend.
The recovery experienced by China since last summer was further strengthened by substantial growth (+37.7%).
Despite an increase of 8.3%, Japan has seen falling figures for several months.
The United Kingdom continued to advance, benefiting from the weak pound sterling.
The value of the other main European markets fell, as did Singapore (-1.0%) and the United Arab Emirates (-20.8%).