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Swiss Watch Exports Increase 3.4% in February

PARIS – Swiss watch sales picked up pace in February, boosted by the stockpiling of timepieces in the United Kingdom in the run-up to Brexit, and the sales of bi-metal and precious metal watches.
Foreign sales of Swiss timepieces gained 3.4 percent in the month to 1.8 billion Swiss francs, according to the Federation of the Swiss Watch Industry. This comes on the heels of a 0.2 percent rise in January.
Geographic results were mixed in February. Sales of Swiss watches grew 58.3 percent in the United Kingdom, accounting for 80 percent of the increase worldwide, and “is explained by stockpiling ahead of Brexit,” the federation said, referring to when the United Kingdom is due to leave the European Union, currently set for March 29.
Sales of watches were down 3.8 percent in Hong Kong and 6.6 percent in the United States, mostly due to an unfavorable base effect. After two months of decline, sales in China advanced 15.1 percent. They were up 19.4 percent in Japan, marking a strong gain for the second month running. Meanwhile, sales in Singapore gained 18.6 percent, an unprecedented growth level for the country.
Exports of watches made from bi-metal and precious metals, particularly platinum, were up 12.4

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Via:: https://wwd.com/accessories-news/watches/swiss-watch-exports-increase-february-1203087135/