Swiss watch exports : the trend remains clearly negative
The downturn in Swiss watch exports continued in May. Their value dropped 9.7% compared to last year, to stand at 1.6 million francs. Over the first five months of the year, the level was lower than that of 2012.
The result for May was penalised mainly by watches in precious metals, whose decline exceeded 20%. Other categories experienced more moderate falls in sales. In volume terms, steel timepieces dragged the level down.
All price segments lost ground, but not in equal measure. As has been the case in recent months, the 500-3,000 franc range (export price) remained the least affected by the general trend. Although suffering a clear downturn, watches priced below 200 francs also fared slightly better. The contraction was particularly marked between 200 and 500 francs, while timepieces priced at over 3,000 francs also registered a double-digit decline.
Hong Kong recorded the same steep decline as in April, albeit less pronounced than the trend for the past twelve months. In the United States, recent results have been inconclusive, while following a clearly downward path. Japan recorded its third consecutive month of decreasing sales, despite a fairly favourable base effect. Europe, which represented the last pocket of growth, has seen its situation deteriorate sharply over the past three months. In May, Italy, France and Germany recorded steep downturns. The United Kingdom suffered to a lesser extent due to an unexpected surge in exports of large-volume products (clocks, alarm clocks, etc.) of high value.
