PARIS — Swiss watch exports rose sharply in August, despite a very unfavorable comparison base with the previous year, climbing 16.4 percent to 1.3 billion Swiss francs, or $1.66 billion at average exchange rates for the period.
For the year to date, exports of Swiss timepieces are up 19.2 percent, the Federation of the Swiss Watch Industry said today.
Mid-priced watches accounted for the bulk of the gains in August, with watches priced above 500 francs, or $640, recording a rate of increase of more than 30 percent. Timepieces costing more than 3,000 francs, or $3,845, saw a slight drop.
In value terms, the strongest gains were registered in China, up 44.3 percent; the United States, up 21.8 percent; and Hong Kong, up 18.4 percent.