64 °F New Orleans, US
April 3, 2020

Brexit Stockpiling Boosts Swiss Watch Growth

Swiss watch exports rose in February, as stockpiling in the UK prior to Brexit accounted for 80% of the industry’s worldwide growth.

Shipments rose 3.4% to CHF 1.8 billion ($1.8 billion) for the month overall, following a two-month downturn. Supply to the UK surged 58% to CHF 126.5 million ($126.5 million), while those to China bounced back, rising 15% to CHF 151.1 million ($151.1 million). Exports to Hong Kong fell 3.8% to CHF 245.6 million ($245.6 million), and orders to the US dropped 7% to CHF 174.4 million ($174.4 million). 

“Export growth in the watch industry gained momentum in February, despite a base effect that remained very unfavorable,” the Federation of the Swiss Watch Industry reported Tuesday. The UK boasted “extraordinary growth,” it noted. 

Read more about the Brexit stockpiling and how it is boosting Swiss watch growth on Rapaport online HERE

Related articles

Pantone Color of the Day

The Pantone color of the day for July 17th is Iris. Born today? Then you are Interesting, Private & Provocative! Adorn yourself with jewelry that celebrates the quiet hue of Rose de France Amethyst, and you’ll draw peace, stability and inner joy from its calming energy today!

Gemstone of the Day

Did you know? All red gemstones used to be referred to as “Ruby” & it wasn’t until 1783 that Spinel was differentiated from rubies. Within the British Crown Jewels collection the “Black Prince’s Ruby” and the “Timur Ruby,” originally identified as Rubies, were found to be Spinel.