Swiss watch exports pick up in June to 1.6 billion euros

Swiss watch exports picked up speed in June to a total 1.9 billion francs (1.6 billion euros, $2.0 billion), the national watchmaking federation said on Thursday.

The results, up 21.7 percent on the same period last year, contributed to total sales of more than 10 billion francs (8.3 billion euros) in the first six months of 2012, the Federation of the Swiss Watch Industry (FHS) said in a statement.

Sales of watches under 200 francs continued to fall, the FHS said, in comparison with a 34.4 percent rise in demand for top-end timepieces, for which the asking price starts at 3,000 francs.

Healthy sales in Hong Kong (up 28 percent in June) contrasted with a 22.6 percent fall in demand from the rest of China, the federation said.

It added that the United States accounted for a 23.8 percent rise in June sales compared with a 10.6 percent increase in May.