Watch industry in Switzerland shows recovery

First published: 22-12-2009

Demand for Swiss watches jumped during November when compared to the previous month, the Federation of the Swiss Watch Industry announced today (December 22nd).

After a huge drop in exports which saw numbers falling to their lowest level in 20 years, the trade seems to be registering an impressive recovery despite the effects of the current economic climate.

Despite this, exports of wrist watches fell by 10.6 per cent year-on-year in November to £807 million, though this is a notable bounceback from the 23 per cent gap registered in October.

Chinese exports saw a huge jump during the month, rising by 36 per cent over the course of the four-week period.

"This rate is a marked improvement on previous months. The trough of the wave appears therefore to have been reached, and may even be receding," Reuters had the federation as stating following the news this week.

Exports from the country quadrupled over the stretch of 20 years for the Swiss watch industry, hitting the heights of £10 billion in 2008 from just £2.5 billion in 1986, the Guardian revealed earlier this month.

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