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FINANCIAL NEWS
UAE tops GCC in Swiss-watch sales in 2012: FSWI
02 Feb 2013
(MENAFN) A recent data released by the Federation of the Swiss Watch Industry (FSWI) showed that the UAE Swiss watches sales grew by 23 percent in the first eleven months of 2012 from a year earlier, Arabian Business reported.
According FSWI, total sales of Swiss watches in the UAE hit USD835.4 million in the January-November period, making the largest market in the GCC.
Saudi Arabia came second with USD331 million in sales dueing the same review period, up 17.3 percent from a year ago.
Qatar came third with USD127.5 million in sales, up 23.1 percent from a previous year, followed by Kuwait with USD87.3 million in sales, up 17.5 percent from the same period a year earlier.
The growth rate in the GCC was well above the top 30 countries, which increased overall by 12.5 percent since 2011.
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