The main materials used in watch cases reported growth, in particular steel which on its own accounted for one-half of the increase in value in October. The number of timepieces exported also rose distinctly, boosted by products in steel and those in the Other materials category.
The value of watches costing less than 200 francs (export price) fell (-3.4%), while the other segments reported sustained growth. The 500-3,000 francs price category posted the best result with growth of almost 20% both in value and in the number of pieces.
Most of the 30 main markets proved positive in the month of October. Hong Kong (+15.8%) and China (+18.2%) continued to grow strongly. Japan (+21.7%) recorded an even more substantial advance, although against the background of a declining medium-term trend. Contrasting with these strong increases, watch industry exports to the United States (-7.3%) remained negative. Growth in the United Kingdom (+1.2%) continued to run out of steam, while Italy remained flat (-0.7%). Overall growth in Europe stood at 5.9%.