Fuelled by high demand in Hong Kong, Swiss watch sales resumed a strong trajectory of growth, with a 13.8 percent rise in April. The Federation of the Swiss Watch Industry said Tuesday, foreign sales of Swiss watches were 1.8 billion Swiss francs, or $1.8 billion dollars, led by robust growth in Asia.
The pace of foreign sales of Swiss watches had slowed down in March after brisk increases of 13 percent in both January and February. Sales to Hong Kong, the industry’s most important market, jumped 43.4 percent, the highest monthly rate in six years. Sales in China slowed compared to previous quarters and advanced 11 percent, while Japan continued to mark its recovery with a 9.1 percent rise.
Exports to Germany gained 12.8 percent, while France and Italy posted slower growth, up 5.3 percent and 2 percent, respectively. The U.K., however, registered a 14.7 percent decline. Steel watches grew the fastest, up 16.9 percent. Swiss watch exports are closely eyed for clues about the health of the broader luxury sector.