The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.

Wednesday, 22nd February 2006 (5591 views)

Sales of luxury gold watches have helped to boost the Swiss watch industry, according to the Federation of the Swiss Watch Industry (FSWI).

Sales of 18-carat gold timepieces grew by 13.5 per cent in December 2005 compared to the same month a year earlier.

This helped total Swiss watch exports reach a total of 1,203.7 million francs, up by 23.1 per cent from the December 2004 total.

The results came in the wake of an already-impressive 2004, and set a new record for total sales within the industry.

Business was helped by the rate of variation holding steady at about plus ten per cent during 2005, which meant that the unpredictable wider economic situation was not as big a concern as it could have been.

The FSWI believes that the results bode well for 2006 sales, saying that "the final result could exceed that of 2005 by as much as 5 or 6 per cent".

The regional markets in which the Swiss watch industry achieved the most growth include China, where exports increased by 25.7 per cent, and the US, which grew by 14.5 per cent.

 

« Back to Gold News stories