Watches manufactured from precious metals played no part in the upturn in value. Steel set the tone, with other categories recording significant increases. In volume terms, variations were very marked. The category of other materials rose sharply, however other metals and steel lost ground.
Watches costing less than 200 francs (export price) fell back slightly in January, offset by other segments. Between 200 and 3,000 francs growth was more substantial, both in volume and value terms. Timepieces costing more than 3,000 francs, up 4.0% by value, played an important part in the overall result.
The main markets presented mixed results. Hong Kong remained negative, while China saw its value increase. The United States continued its recovery, thanks to a better performance over the past 18 months. Japan also started the year on a very buoyant note. Germany recorded a second consecutive month of moderate decline, confirming the slowdown in its annual growth. The United Arab Emirates were among those markets up sharply compared to January 2013, together with Saudi Arabia, Russia, Austria and Canada.