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Swiss watchmaking in July 2012: within a whisker of CHF 2...
Economy

Swiss watchmaking in July 2012: within a whisker of CHF 2 billion

Thursday, 23 August 2012
Press Release
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The value of Swiss watch exports almost attained CHF 2 billion in July. Strong growth (+15.4%) resulted in a particularly high level for this period of the year. The sector therefore shows no obvious sign of losing its momentum in terms of exports, despite what was expected. This trend will be monitored closely at a time when some market segments have already registered a slowdown.

Gold watches generated the highest value, buoyed by a sharp increase compared to July 2011. Steel timepieces also contributed to the rise in export sales. The total number of timepieces fell by 3.8%, while remaining at a high level. The category of other metals (mainly aluminium) recorded a significant decline which weighed on the overall result.

Source : Fédération de l'industrie horlogère suisse FH

The downturn in volumes was concentrated in the segment of watches costing less than CHF 200 (export price) which recorded a result of -8.3%. This decline was partially offset by other categories. Timepieces priced at between CHF 200 and CHF 3,000 saw their value increase by 4.6%. As in previous months, growth in value was concentrated in the segment of watches costing more than CHF 3,000, where the monthly increase was 24.1%.

Source : Fédération de l'industrie horlogère suisse FH

The geographical distribution of exports reflected sales data from the markets. Hong Kong recorded another slight slowdown in growth with a zero variation in July. The United States maintained its position, although sales here were quieter. In fourth position, China recorded a second month of decline, slowing its pace further. Europe overall followed a contrasting path, with strong increases on its main markets.

Source : Fédération de l'industrie horlogère suisse FH

All the figures released by FH refer to exports data and not to sales to end-consumers. Differences between these two types of data may therefore exist.These data must be regarded as consolidated figures gathering export results from all Swiss watch companies. They obviously cannot reflect the individualresults of one particular company or group of companies, knowing that business activity may greatly vary from one to the other.

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