According to the recent figures released by Federation of the Swiss Watch Industry FH. The Swiss watch exports rose strongly in May, They were worth 1.7 billion francs, 9.0% more than in May 2016. This was the second positive month after March, confirming the recovery which has been under way since the start of the year.
Several important markets posted very strong growth. Hong Kong (+18.1%) and China (+34.4%) led the Asian continent while the situation in Japan (-3.2%) continued to deteriorate. Alternating between highs and lows, the United States (-1.1%) also declined slightly in May, maintaining the negative trend that has affected the country for more than one year. In Europe, the four leading markets, i.e. Italy (+26.7%), the United Kingdom (+12.9%), France (+9.5%) and Germany (+3.7%) all reported growth.
In the MENA Region most markets reported positive growth with the exception of UAE -10.7%, Qatar -15.9%. While Saudi Arabia and Kuwait reported an increase of 8.8% and 2.6% respectively.