PARIS — Swiss watch exports bounced back in June as sales in Europe compensated for continued weakness in Asia.
Exports for the month rose 3.3 percent to 1.93 billion Swiss francs, or $2.07 billion, according to the Federation of the Swiss Watch Industry. This tipped the cumulative result since January back into positive territory, with sales up 0.4 for the year so far.
Growth in June was fueled by watches made of precious metals and other metals, while steel and bimetallic watches posted a slight decrease. Both ends of the price scale contributed to the upturn in sales.
Watches costing less than 200 francs, or $215, recorded a rise of 8.1 percent in the number of units sold, corresponding to a 0.5 percent rise in value terms. Exports of timepieces costing more than 3,000 francs, or $3,220, were down 1.1 percent in volume terms but rose 4.5 percent in value terms, the federation reported.
Sales to Hong Kong fell 21.2 percent in June, making it the fifth consecutive month of decline in the world’s top market for Swiss timepieces. Meanwhile, sales in China were down 9.2 percent.
However, the United States recorded a 4.7 percent increase and Europe was up 15.7 percent overall, with sales jumping 34.8 percent in the United Kingdom, 24.9 percent in Italy and 24.4 percent in France.