Exports of luxury Swiss watches, which includes those made from platinum and gold, jumped 25 per cent in October, according to data from the Federation of the Swiss Watch Industry.

Strong demand from abroad helped this subgroup of timepieces costing 3,000 francs each outpace the rest the market, which recorded a 17 per cent gain last month, Dow Jones reports.

The appetite for all types of Swiss watches in Hong Kong, which accounts for a fifth of exports, increased by 19 per cent.

Demand from China surged by 68 per cent, while that for Italy and Germany rose by over 35 per cent.

Asian countries bought more than half of total Swiss watch exports in 2010 and sales in the region grew by 35 per cent over the year.

In the first ten months of the 2011, watch exports have risen by 22 per cent, beating growth in all other sectors of the Swiss economy, except jewellery.

"The figures make us confident for the future," Jean-Daniel Pasche, president of the Federation of the Swiss Watch Industry, told Dow Jones. "Although the strong franc is pressuring some producers' margins, we are in a very positive phase for the sector."

It comes after the Federation reported that watchmaking group Hermes recorded a 20 per cent rise in turnover in Q3, driven by the "exceptional growth" in America (30 per cent) and Asia excluding Japan (32 per cent) seen in the first half-year continuing into the third quarter.

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UPDATE: Swiss Watch Exports Hit Record As Industry Bucks Trend (22/11/11)

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