Watch exports from Switzerland rose by 4.4% in March

The Federation of the Swiss watch industry reported an acceleration in the growth of watch exports in March to a record 4.4% since October 2018 from 3.4% in February. Its volume amounted to 1 billion 742 million Swiss francs. The growth in the supply of watches was recorded in all major sales markets. The UK showed the most significant increase - by 76.4%. Exports to China increased by 17.3%, to Japan - by 21.8%. In the first quarter, watch exports from Switzerland amounted to 5 billion 130 million francs, an increase of 2.9%. The largest increase in the supply of Swiss watches was recorded in the UK, where the figure jumped 51.9%. Watch exports to Japan increased by 23.7%. Exports of goods and services from Switzerland as a whole rose in March by 0.1%, while experts had expected a decline of 0.6%. Imports fell by 3.2%, while the market had predicted its rise by 0.8%. In the first quarter, the trade surplus in Switzerland declined to 6,200 million francs. Exports decreased by 1%, imports increased by 0.7%.

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