A surge in Swiss watch exports in December lifted 2005 exports to a record 12.3 billion Swiss francs ($9.5 billion) as the industry continues to benefit from a global economic pick-up and increased travel.
On the same day as Swatch Group, the world's top watch maker, reported record sales for 2005, the Federation of the Swiss Watch Industry said December exports jumped 23.1 per cent year-on-year to 1.204 billion Swiss francs.
Watch makers witnessed a good Christmas season last year as consumers splashed out on expensive diamond-encrusted timepieces. A revival in tourism and travel has also boosted sales in duty-free centres.
Swatch Group and Swiss luxury house Richemont have both reported solid sales growth in recent months, citing strong demand for expensive watches.
Richemont's shares rose 0.6 per cent to 59.45 francs by 8.35am, while Swatch's bearer shares were up 1.2 per cent at 211.10 francs.
The Federation of the Swiss Watch Industry said the leading 10 markets for the Swiss watch industry registered two-digit growth in December, with China and Singapore up more than 50 per cent.
In 2005, exports to the United States rose 14.5 per cent, while exports to Japan climbed 15.7 per cent. Exports to Europe ended the year with a "very satisfactory record", up 8.1 per cent, the industry group said.