November brings glad tidings to watch industry
Swiss watch exports hit a record high in November, thanks to a rise in the demand for luxury timepieces.
The value of exports amounted to SFr1.26 billion ($1.1 billion), helping to make it a bumper year for the Swiss watch industry.
This is the first time the SFr10 billion mark has been exceeded after 11 months.
The November figure represents a rise of more than 12 per cent compared with the same period last year, underlining the strength of the sector’s recovery.
The results bring glad tidings to Switzerland’s watchmakers as exports make up 95 per cent of total sales.
The highest increase in demand was seen in Japan, up 38 per cent to SFr118 million.
This was followed by Hong Kong (up 18 per cent) and the United States, where demand rose by 15 per cent to SFr225 million.
While growth was recorded on the British and Italian markets, exports to Germany and France decreased.
Buyers in November were interested in the more expensive watches, while the costs of individual pieces rose too.
On the most wanted list were bimetallic watches, whose export price increased by more than 60 per cent.
swissinfo with agencies
The Swiss watch industry has had its best month ever in exports in November 2004.
Exports reached SFr1.26 billion ($1.1 billion), a rise of more than 12 per cent on the previous year.
Total exports will be more than SFr10 billion for 2004, making it a record year.
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