Swiss Watch Industry Posts 30% Growth

The Swiss watch industry saw a second consecutive month of export growth in excess of 30 percent in May 2011, according to statistics from the Federation of the Swiss Watch Industry.

Watch exports in May reached 1.6 billion francs, a 31.6 percent jump compared with May 2010.

Gold watches were in high demand, with exports leaping 50.3 percent in May. Platinum watches fell 0.8 percent and silver and gold-plated watches fell 74.3 percent. Steel timepieces set the general trend, with steel seeing a 30.5 percent increase.

Watch demand from Hong Kong maintained a strong growth rate at 37.3 percent, while China slowed slightly despite an increase of more than 45 percent. Exports into the United States grew 28 percent. 

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JCK News Director