An unexpected year-on-year dip in growth of Swiss exports appears to have been just a blip in a year of strong recovery for the country’s watch industry.
Exports fell by 6.9% in September, compared to the same month in 2017, but October saw a return to growth, with a 7.2% rise, according to the Federation of the Swiss Watch Industry.
Swiss watch exports to the United States rose by 11.1% in October to CHF 206 million.
For the 10 months of 2018 to October, the USA has seen imports of Swiss watches increase by 7%. If that growth rate continues for the full year, the total will hit CHF 2.2 billion, the best result since 2015.
The strong Swiss export figures to the United States chime with analysis of retail sales by NPD, which says sales for the first half of 2018 were up by 8%.