Swiss watchmakers are beginning to breathe more easily as green shoots of recovery since the start of the year are blossoming into strong growth in most global markets.
Exports to China shot up by 34.4% in May, compared to the same month in 2016, according to the latest data from the Federation of the Swiss Watch Industry.
Hong Kong also notched strong growth, with imports of Swiss watches up 18.1% in May.
Globally, exports of Swiss watches rose by 9% in May, although for the first give months of 2017, exports are still 1% lower than the first five months of 2016.
The UK is the fourth largest market for Swiss watches so far this year, with imports worth CHF493.6 from January to May 2017. That is a 12.3% rise over the same period in 2016.
For the single month of May, the UK is the world’s fifth largest market with imports worth CHF 102.2 million. It is the first time in history that the UK has imported Swiss watches worth more than CHF 100 million in May.
