The Federation of the Swiss Watch Industry reported stellar news this week for Swiss watchmakers. Exports reached $23.5 billion dollars (US) in 2012, nearly 11 percent more than the prior year.
"In an often unfavorable economic climate, the Swiss watch industry clearly managed to hold its own," the federation said in a statement.
The continuing surge in emerging markets in Asia and the Middle East coupled with the strengthening of core markets in Europe fueled the record exports. But there's a red flag for 2013: December saw Swiss watch exports drop 15 percent year-over-year in Hong Kong and 32 percent in mainland China, two of the three largest markets.
Here are the 15 top markets for 2012. Revenue is in Swiss Francs (1 Swiss Franc = 1.09 US dollar).
|Country||Revenue MM$||vs. 2011|
|9.||United Arab Emirates||855.2||+25.2%|