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Swiss watchmaking in November 2014
Economy

Swiss watchmaking in November 2014

Friday, 19 December 2014
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Illustrating a tighter situation on some markets, watch exports saw their value fall by 4.4% compared to November 2013. They attained a level of 2.1 billion francs. Part of the decline can be attributed to the number of working days, though this cannot conceal the less favourable environment in which the sector finds itself.

All main materials saw their value fall in November. Steel watches set the tone, with bimetallic products losing ground more sharply. Gold timepieces remained stable, however precious metals were penalised by the decline in platinum watches. In volume terms, downturns clearly exceeded the few slightly more positive fluctuations.

All price segments were affected by the downswing, both in value and volume terms. Below 3,000 francs (export price) negative performances were fairly uniform with a result of -7.3% by value and -7.0% by volume. Watches costing more than 3,000 francs were affected to a lesser degree, with -2.0% by value.

Source: © Federation of the Swiss watch industry FH

Variations on the different markets took a different turn in November. After two positive months, Hong Kong recorded a marked decline. The United States meanwhile continued its favourable trend by registering one of the largest increases. Among the three main European markets, Italy was situated close to the world average, whereas Germany and France recorded steeper losses. While Singapore remained stable, the other main Asian markets showed a negative trend: Japan put an end to twelve months of strong growth, China (-27.6%) lost a lot of ground, finding itself in ninth place, and even South Korea (-1.7%) caught its breath after 16 months of strong and uninterrupted growth.

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