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Swiss watch exports exceeded pre-pandemic levels in April as demand in the US strengthened and China continued to see growth in domestic purchasing.Global shipments were 2% higher than in the same month of 2019, amounting to CHF 1.79 billion ($1.99 billion), the Federation of the Swiss Watch.
Swiss watch exports exceeded pre-pandemic levels in April as demand in the US strengthened and China continued to see growth in domestic purchasing.Global shipments were 2% higher than in the same month of 2019, amounting to CHF 1.79 billion ($1.99 billion), the Federation of the Swiss Watch.
Swiss Watch Exports Recover to Pre-Covid Levels Boosted by China, US businessoffashion.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businessoffashion.com Daily Mail and Mail on Sunday newspapers.
Swiss Watch Exports Recover to Pre-Covid Levels on China, U.S.
This content was published on May 27, 2021 - 06:50
May 27, 2021 - 06:50
(Bloomberg) Swiss watch exports are returning to pre-pandemic levels after their biggest annual slump since the financial crisis, boosted by demand in China and the U.S.
Shipments rose 2% to 1.8 billion francs ($2 billion) in April compared with the same month in 2019, according to the Federation of the Swiss Watch Industry. Exports started to recover in March.
Swiss watch exports fell 22% in 2020 as tourism ground to a halt and lockdowns shuttered stores. The next two months will be decisive in confirming the trend of recovery, the federation said in a statement. So far, the cumulative start to 2021 is identical to the performance two years ago, it added.