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Swiss watchmaking in February 2014: rebound in growth...
Economy

Swiss watchmaking in February 2014: rebound in growth confirmed

Thursday, 20 March 2014
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Swiss exports in February confirmed the rebound in growth recorded in January. Their value rose 7.0% compared to February 2013, reaching a level of 1.7 billion francs. After a year of consolidation at a very high level, the sector is again showing signs of a marked increase in the value of exports, in line with forecasts.

The main materials by value recorded an increase close to the average. Those representing a smaller share rose very steeply. The picture in volume terms was more mixed, however the total was up significantly compared to February 2013. The category of other materials registered very strong growth.

In terms of watch exports by price segment, the only downturn recorded in February concerned the value of timepieces costing less than 200 francs (export price). This was offset however by other price ranges. Above 200 francs, the increase was on average 8.4% by value and 11.3% by volume.

Several markets recorded sharp upturns. Hong Kong for example exceeded its February 2013 level by 18.7% while Japan even registered +44.6%. In second place, the United States continued its recovery, albeit at a more moderate rate. Watch exports to China were flat, but remain well below their 2012 level. Germany, the leading European market, recorded a downturn for the third consecutive month. After very strong growth in January, the United Arab Emirates continued to gain ground.

12 months moving average
Wristwatches by price categories
6 main countries
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