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Swiss watchmaking in July 2014 – growth remains stable
Economy

Swiss watchmaking in July 2014 – growth remains stable

Friday, 22 August 2014
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The trend remained unchanged in July. Watch exports continued to show moderate growth in value terms. Totalling 2.1 billion francs, they registered an increase of 2.2% compared to July 2013. For four months growth has been modest but sustained, allowing the sector to hold its own at a very high level.

Growth by value was buoyed by bimetallic and platinum watches, while steel watches stagnated. The number of timepieces exported increased thanks to bimetallic products and the category of other materials. However the category of other metals recorded a sharp monthly downturn.

Watches costing less than 200 francs (export price) rose considerably by volume. The 200-500 francs segment registered a decline which, with the poor showing in May and very modest increases in March and June, held back the high annualised growth recorded thus far. Between 500 and 3,000 francs, results stagnated both in value and volume terms. Above 3,000 francs, the trend was positive.

On the main export markets, several downturns were offset by some very strong gains. Hong Kong and the United States fell back slightly, without significantly changing their positive medium-term trend. Following a lengthy spell of negative results, China recorded a sharp upturn in July, the highest in the past 30 months. Japan continued to forge ahead, as has been the case since the end of last year. The major European markets lost ground, however the United Kingdom (+8.8%) and Spain (+15.4%) showed marked improvements.

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