Hong Kong maintained its position as the top overseas market for Swiss-made luxury watches, with exports reaching CHF 204.8 million (around $212.03 million) in July, up 16.8 percent from the same period a year ago, data from the Federation of the Swiss Watch Industry FH showed.
Hong Kong accounted for 12 percent of total exports, followed by the US and China.
According to the federation, watches in precious metals and steel made a strong contribution to the overall growth in value while other materials, such as bimetal products, declined. Volumes remained stable overall, it said, adding that the increase for timepieces made of steel offset the decline in other metal categories.
Total Swiss watch exports reported growth for the third month in a row. The value was 3.6 percent higher compared to the same period last year at CHF 1.7 billion (around US$1.76 billion). “Year-on-year recovery continued, steadily approaching the forecast stabilisation,” the federation said.