The Swiss watch industry rebounds with 7.5% growth

The Federation of the Swiss Watch Industry revealed an encouraging report on watch exports abroad, with growth of 7.5%.

By Hélène

The Swiss watch industry continues to rebound, with growth of 7.5% over the first 10 months of the year.

According to data from the Federation of the Swiss Watch Industry, exports in October amounted to nearly 2 billion Swiss francs, an increase of 7.2% year-on-year.

In September, exports fell for the first time in more than a year, but last month, watches returned to their growth trajectory.

The three largest Swiss watch markets recorded double-digit growth. Hong Kong grew by 10.3% to 270.5 million Swiss francs ($272.7 million) and the United States increased its export value by 11.1% to 206 million Swiss francs ($207.7 million). In third place, exports to China increased by 24.1% or 184.9 million Swiss francs ($186.4 million).

After the isolated fall in September, watch industry exports returned to the sustained trend previously reported,” the federation said.

Exports of gold and steel watches increased by 11% to CHF 314.2 ($316.7 million) in October. The watch supply in precious metals increased by 8% to CHF 616.7 million (621.7 million), while deliveries of steel watches increased by 6% to CHF 790.7 million (797.1 million).

By Hélène

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Thanks to its extensive knowledge of these sectors, the Luxus + editorial team deciphers for its readers the main economic and technological stakes in fashion, watchmaking, jewelry, gastronomy, perfumes and cosmetics, hotels, and prestigious real estate.

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