WWD.com/accessories-news/financial/swiss-watch-exports-gain-127-in-august-6310520/
government-trade
government-trade

Swiss Watch Exports Gain 12.7% in August

Growth in the month was bolstered by the ongoing popularity of gold timepieces.

PARIS — Swiss watch exports rose 12.7 percent in August, bolstered by the continued popularity of gold timepieces.

 

Foreign sales of Swiss watches in the month totaled 1.5 billion Swiss francs, or $1.55 billion at average exchange for the period, the Federation of the Swiss Watch Industry said.

 

The number of exported timepieces decreased 1.7 percent compared to August 2011, negatively impacted by a 5 percent unit decline of watches costing less than 200 francs, or $206. However, sales of timepieces costing more than 3,000 francs, or $3,093, grew 21.5 percent, maintaining their strong momentum.

 

Swiss watch exports to Hong Kong rose 11.1 percent, and China registered a 1.1 percent gain after two consecutive months of decline. Meanwhile, Singapore posted a 20.6 percent drop.

 

Europe showed a strong performance, with Germany up 35.6 percent and France up 22.6 percent. Sales in the United States increased 11.1 percent.

 

Cumulative Swiss watch export growth in the first two-thirds of this year was 16 percent.