The United Kingdom remains one of the fastest growing global markets for Swiss watchmakers, despite export growth evaporating in November.
The monthly report from the Federation of Swiss Watch Industry revealed that exports to the UK were down by 1.9% in November compared to the same month in 2017.
However, the country remains one of the fastest growing in the world in the 11 months since January, with exports of Swiss watches up by 7.9% for the year to date.
Confidence is rapidly being restored in Switzerland with nine straight months of growing exports to global markets. The major watch brands that invested heavily in China over the past 20 years will be particularly relieved that exports to the world’s most populus country are up this year by almost 20%.
Hong Kong and Singapore have also returned to growth, leaving just the USA, Japan and the United Arab Emirates from the top 10 markets struggling in 2017.