In September, Swiss watch exports continued their ongoing recovery, though sales to the United States remained weak.
According to statistics provided by the Federation of the Swiss Watch Industry (FHS), overall watch exports rose 3.7 percent to 1.8 billion Swiss francs (approximately $1.817 billion) during September. However, watch shipments to the United States fell 0.6 percent over the month.
Singapore and Hong Kong both posted strong gains, with sales rising 89.6 percent and 13.7 percent respectively.
The weakest part of the business was the low end. Watches priced less than 200 Swiss francs (export price) saw sales fall 18.5 percent versus last year. By contrast, timepieces priced between 200 and 3,000 Swiss francs saw slight growth while sales of items costing over 3,000 Swiss francs soared 8 percent.
This is the fifth month in a row overall Swiss watch exports have risen and the sixth month this year they have increased, following a prolonged decline in sales that lasted over a year.
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