Exports of Swiss timepieces rose 11.4 percent in May 2019, with the Chinese market registering strong growth, according to the Federation of the Swiss Watch Industry FH.

The increase was driven by an additional business day, and by an exceptional shipment of alarm clocks and small clocks. 

“The vast majority of markets saw an increase during May. Hong Kong was a major exception, recording a decline of 7 percent for the second consecutive month and confirming the downward trend seen since the start of the year,” noted the group. 

Exports to China increased by 81 percent, followed by Japan (39.8 percent) and Singapore (24.9 percent). The US saw a 10.4 percent rise while France recorded an upswing of 10.9 percent.

Performance remained sharply polarised in terms of price segments, according to the federation. Watches priced below CHF200 (around US$204) continued to lose ground, falling by 16.1 percent by the number of items, in contrast to timepieces priced over CHF3,000 (about US$3,064), which recorded double-digit growth.