Travel retail and duty sales contributed strongly to a healthy increase in Swiss watch exports last year to a record Swf.12.3bn ($9.5bn).
Just as the Swatch Group reported record sales for 2005, the Federation of the Swiss Watch Industry reported that December exports surged by 23.1% (to Swf.1.2bn) compared to December 2004. The Federation said that the duty free sector made a particularly good contribution.
In a statement, the Federation said: ‘The year 2005 thus clearly established a new record by exceeding the 12 billion franc mark for the first time.’
The Federation said the leading 10 markets for the Swiss watch industry registered two-digit growth in December, with China and Singapore up by more than 50%.