The Federation of the Swiss Watch Industry revealed an encouraging report on watch exports abroad, with growth of 7.5%.
By Hélène
The Swiss watch industry continues to rebound, with growth of 7.5% over the first 10 months of the year.
According to data from the Federation of the Swiss Watch Industry, exports in October amounted to nearly 2 billion Swiss francs, an increase of 7.2% year-on-year.
In September, exports fell for the first time in more than a year, but last month, watches returned to their growth trajectory.
The three largest Swiss watch markets recorded double-digit growth. Hong Kong grew by 10.3% to 270.5 million Swiss francs ($272.7 million) and the United States increased its export value by 11.1% to 206 million Swiss francs ($207.7 million). In third place, exports to China increased by 24.1% or 184.9 million Swiss francs ($186.4 million).
“After the isolated fall in September, watch industry exports returned to the sustained trend previously reported,” the federation said.
Exports of gold and steel watches increased by 11% to CHF 314.2 ($316.7 million) in October. The watch supply in precious metals increased by 8% to CHF 616.7 million (621.7 million), while deliveries of steel watches increased by 6% to CHF 790.7 million (797.1 million).
