Swiss watch exports recovered by 1.5 percent in March and rose to CHF 2.38 billion (CHF 2.56 billion).
The growth was powered by deliveries to the United States, as the Association of the Swiss watch industry announced on Thursday. “In the entire first quarter, however, the development remains slightly negative with a decline of 1.1 percent,” said the association in a press release. In February, watch exports fell by 8.2 percent.
In March, watch exports to the United States, the most important sales market in the Swiss watch industry, rose by 13.7 percent compared to the same period last year. They also moved 10.6 percent to the United Kingdom and 1.1 percent to Japan, but went back to China by 11.3 percent after Hong Kong and 11.5 percent, according to the association.
The watch exports do not reflect the sales to the end users, but the deliveries to the specialist trade to fill up the inventory. This statistics are followed by financial analyst: inside, since they provide information about the orders of retail and thus about their expectations of their local customers.
Some analyst: According to the inside, the extent of this increase in the United States in March indicates that the clock manufacturers might have already started to increase the deliveries to the USA, a key market to build inventory, since the threats with tariffs were already concerned about the decision of the White House on April 2. In a market comment, the analyst: Inside Jefferies, assuming that the figures for March “probably favored by early deliveries to the United States in the run -up to the impending tariffs”.
Jon Cox, analyst at Kepler Cheuvreux, emphasizes to the AFP that “all the signs of slowing down in the USA”. In his opinion, this increase in exports to the United States “probably” reflects the fact that the US individual dealers “stimulated before the tariffs in April”.
This article was used with digital tools translated.
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