Despite the European debt crisis and an economic slowdown in China, the Swiss watch industry grew swiftly in the first half of 2012, according to Federation of the Swiss Watch Industry (FH) data. Overall, exports were up 16.4 percent compared to the same period in 2011. Luxury watches, costing more than $3,000 USD, saw the greatest growth with a 25.4 percent increase in shipments year-over-year.
Demand was strong in most markets, regions. See the chart below which shows total value in millions of francs (one Swiss franc is approximately one USD) and percentage comparison to the first half of 2011.