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Swiss watchmaking in April 2014: slight upturn
Economy

Swiss watchmaking in April 2014: slight upturn

Wednesday, 28 May 2014
Press Release
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The trend remains positive for Swiss watch exports. In April, their value was up 1.7% compared to April 2013, to a level of 1.8 billion francs. In four months, total exports for the sector stood at 6.8 billion francs (+3.8%).

Steel continued to underpin growth in value terms, while bimetallic watches remained stable. Among precious metals, platinum registered a sharp increase. Gold however was sluggish. The total number of timepieces was identical to April 2013. The category of other materials made a very strong showing, however other metals in particular lost ground.

Watches costing less than 200 francs (export price) showed no change in volume terms but recorded a downturn by value. The 200-500 francs segment failed to record its customary growth while maintaining a generally favourable trend. Timepieces between 500 and 3,000 francs showed no change. The best results were achieved by products costing more than 3,000 francs, which posted an increase in the order of 4%.

Watch exports to Hong Kong recorded strong growth, providing a further clear indication of their recovery. The United States continued on a trajectory of moderate growth, albeit with some important fluctuations. Japan recorded the highest increase, lifting it into third place in April. The main European markets produced mixed results. Italy improved its level, albeit in the context of a marked slowdown. Germany, reflecting a similar trend, stagnated in April, while France confirmed its decline. The sharp downturn recorded in China (-16.5%) consigned that country to eighth place on a monthly showing, and to fourth place over the January-April period.

12 months moving average (Source: Federation of the Swiss Watch Industry FH)
12 months moving average (Source: Federation of the Swiss Watch Industry FH)
Main countries (Source: Federation of the Swiss Watch Industry FH)
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