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Swiss watch exports abroad reached new heights in October, putting the annual record of 2022 within reach. The industry exported the equivalent of 2.4 billion Swiss francs<\/strong> (2.5 billion euros) last month, an increase of 5.1%<\/strong> on the previous year.<\/p>\n <\/p>\n “The growth recorded by Swiss watch exports in October remained close to that posted in August and September,”<\/em> noted the Federation of the Swiss Watch Industry (FH)<\/strong> on Tuesday.<\/p>\n <\/p>\n Although the pace of growth stabilized “at a less sustained but still significant level than during the first half of the year”,<\/em> the Federation points out that the cumulative result over ten months has risen notably, representing growth of 8.3%<\/strong> compared to 2022, totaling 22.09 billion Swiss francs<\/strong>.<\/p>\n <\/p>\n This promising performance puts the industry on track to beat the 2022 record of 24.8 billion Swiss francs<\/strong>.<\/p>\n <\/p>\n <\/p>\n The United States and China<\/strong>, as our main markets, took up the slack after a slight decline in September. The USA recorded growth of 5%<\/strong>, reflecting the world average, while China rose by 24.3%<\/strong> after three months of decline. The Federation attributes this rebound in the Middle Kingdom to a “favorable base effect expected for the fourth quarter as a whole”<\/em>, highlighting the recent lifting of Covid-19 restrictions. Hong Kong<\/strong>, for its part, continued its steady catch-up (+17.4%<\/strong>).<\/p>\n <\/p>\n Declines in Japan (-2.7%) and Singapore (-9.8%)<\/strong> put these markets on the bangs of other Asian markets.<\/p>\nUSA and China in the lead, Europe mixed<\/h2>\n
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