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Swiss watchmaking in October 2017 – Strong monthly...
Economy

Swiss watchmaking in October 2017 – Strong monthly rise

Wednesday, 29 November 2017
By The FHH Journal editors
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The FHH Journal editors

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1 min read

Watch industry exports continued to profit from the recovery of some key markets and benefited from a very favourable base effect in October. Their value rose sharply (+9.3% against October 2016) to reach more than 1.8 billion francs. Over ten months, the branch confirmed its improvement with growth of 2.4%.

The main materials used in watch cases reported growth, in particular steel which on its own accounted for one-half of the increase in value in October. The number of timepieces exported also rose distinctly, boosted by products in steel and those in the Other materials category.

12 months moving average
12 months moving average

The value of watches costing less than 200 francs (export price) fell (-3.4%), while the other segments reported sustained growth. The 500-3,000 francs price category posted the best result with growth of almost 20% both in value and in the number of pieces.

Wristwatches by price category
Wristwatches by price category

Most of the 30 main markets proved positive in the month of October. Hong Kong (+15.8%) and China (+18.2%) continued to grow strongly. Japan (+21.7%) recorded an even more substantial advance, although against the background of a declining medium-term trend. Contrasting with these strong increases, watch industry exports to the United States (-7.3%) remained negative. Growth in the United Kingdom (+1.2%) continued to run out of steam, while Italy remained flat (-0.7%). Overall growth in Europe stood at 5.9%.

Swiss watch export by country
Swiss watch export by country
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