Swiss Watch Exports Show Double-Digit Growth



Swiss watch manufacturers exported $1.4 billion worth of watches in August, an increase of 16 percent, according to the Federation of the Swiss Watch Industry.

The strong growth recorded by the sector since the beginning of the year remained at a level approaching 20 percent. Hong Kong and the United States were the top two markets, with both experiencing a double-digit increase in Swiss watch imports, while China saw a 44 percent increase. Exports to France fell for the first time in 17 months by 6 percent, but exports to Germany rose 10 percent. Italy also saw an increase of 44 percent.

Bimetallic watches recorded the highest increase in value terms, with gold-steel watch exports rising 35 percent. Gold watches showed a slight increase of 5 percent, platinum watches dropped 24 percent, and silver, gold-plated watches decreased 62 percent. Steel watches rose 19 percent.