US Swiss watch imports climb in Nov.
Biel/Bienne, Switzerland--Sales of Swiss watches to the United States continued their upward trajectory in November, increasing 10 percent year-over-year, according to data released by the Federation of the Swiss Watch Industry.
Overall, growth in Swiss watch exports was up 5 percent, below the annual average but still reaching a monthly record of 2.2 billion Swiss francs ($2.38 billion) for the month.
Exports of Swiss watches to Hong Kong slowed, falling 14 percent, while exports to China rose 2 percent and exports to Singapore were up 6 percent.
In Europe, Germany and Italy reported increases of 13 percent and 20 percent, respectively.
Sales of gold and steel watches were strong in November while bi-metallic products lost ground, according to the federation.
Price-point wise (export price), watches that cost between 200 and 500 Swiss francs (about $215 to $540) recorded the strongest growth, followed by timepieces priced at 3,000 francs ($3,240) or more. Recording the only downturn among various price-point segments were watches priced at 200 Swiss francs or less.
Year-to-date, U.S. imports of Swiss watches totaled 2.02 billion Swiss francs ($2.18 billion), up 12 percent as compared to 2011 and up 31 percent as compared to 2010.
Total Swiss watch exports have risen 13 percent year-to-date, from 17.43 billion Swiss francs ($18.83 billion) in 2011 to 19.63 billion Swiss francs ($21.20 billion) in 2012.