Exports of Swiss luxury timepieces were up 3.9 percent in November, with the US market leading the growth, according to the latest data released by the Federation of the Swiss Watch Industry FH.
“Most markets enjoyed positive growth. The strongest increase (17.6 percent) was in the US, the second most important market, again reinforcing the upswing that has continued since the beginning of the year,” the federation revealed.
Asia registered an 8.2 percent rise, led by Hong Kong (9.5 percent), China (15.1 percent), Singapore (9.5 percent) and South Korea (15.8 percent). The United Arab Emirates meanwhile recorded a 12.5 percent improvement in exports.
Europe’s luxury watch exports dipped 5.9 percent while slight growth was recorded in Germany at 2 percent and France at 13.2 percent, due to re-exports.
“Bimetal and precious metal watches recorded a steady increase, although steel timepieces moderated the overall effect, remaining in line with November 2017,” the group said.