After the isolated fall in September, Swiss watch industry exports have reverted to the sustained trend. At just under two billion francs (1.987 billion precisely), they were 7.2% higher than in October 2017.
Over ten months, the result has remained at +7.5%, in line with the annual forecast, the Federation of the Swiss watch industry reported.
Bimetal watches reported the biggest rise at +10.6%. In terms of volume, steel watches remained flat while the other materials and other metal categories posted a substantial fall. In all, the number of timepieces exported fell by 9.8%.
Image credit: Federation of the Swiss Watch Industry
As to the price ranges, the results showed a wide discrepancy. Watches priced at less than 200 francs (export price) were distinctly lower, while demand for timepieces costing more than 3,000 francs proved sustained with a rise of more than 10%.
The three foremost export countries and many other smaller markets reported double-digit growth. Hong Kong gained 10.3% and the United States 11.1%. China recorded one of its biggest monthly increases for the year at +24.1%. Japan (-1.0%) was down slightly because of a highly unfavourable base effect. The main European markets such as the United Kingdom (+5.0%), Germany (+8.7%) and France (+11.6%) benefited from a positive dynamic with the notable exception of Italy (-14.7%) and Spain (also -14.7%).
Alex Shishlo, Editor of the Rough&Polished European Bureau in Brussels