Swiss watch exports: Return to growth in September
Swiss watch exports benefited from an additional working day and a favourable base effect in September. The net result for the month increased sharply, to CHF 1.8 billion (+10.2%). The value of exports after nine months is CHF 15.9 billion, an increase of 2.8% compared with last year. Watches priced below CHF 200 (export price) fell a little less rapidly but continue to decline sharply, while the CHF 200-500 range grew slightly. Watches priced over CHF 3,000 saw particularly strong growth, at +17.1% by value. Most markets grew, with some performing very strongly. The United States topped the ranking for the third time this year, with an increase of 14.7% in September. While exports to Hong Kong remained negative (-4.6%), other markets in the region recorded very strong growth, notably in China (+26.0%), Japan (+31.6%) and Singapore (+20.5%). Europe (+6.5%) was influenced by stability in the United Kingdom (+0.6%) and strong performance in Germany (+14.4%), France (+15.6%) and Italy (+7.2%).