PARIS – Swiss watch exports retained their momentum in August, rising 24.1 percent to 1.07 billion Swiss francs, or $1.03 billion at average exchange rates for the period.
“With two thirds of the year now behind us, the branch is 20.1 percent higher and has grown at a sustained pace since last January,” the Federation of the Swiss Watch Industry said in a statement.
Sales in Hong Kong, the largest market for Swiss timepieces, rose 51.7 percent, while France’s business grew 54.7 percent. However, sales growth totaled just 7.6 percent in the United States, well below the world average, and China saw its sales progression slow to 4.4 percent after leading the pack for the first part of the year.
The increases were led by gold watches, with a sales gain of 38.2 percent, and bimetallic timepieces, up 33.6 percent, the report said.