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Swiss watchmaking in September 2014: steady growth
Economy

Swiss watchmaking in September 2014: steady growth

Wednesday, 22 October 2014
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In September Swiss watch exports progressed in line with the first eight months of the year, continuing a positive trend and recording a high value. With one working day more but an unfavourable base effect, the increase was +2.8% compared to September 2013, to a level of nearly 2 billion francs.

Watch exports recorded growth both in value and volume terms. Export sales were buoyed by gold and, to a lesser extent, steel timepieces. By volume, steel and the category of other materials gave a boost to the figures.

Most price segments registered upturns, with the exception of the 500-3,000 francs range (export price), which saw its value decline by 3.7%. Watches costing less than 500 francs rose by 5.0% in volume terms and 6.2% by value. Above 3,000 francs, growth by value was up 4.9%.

Among the 15 main markets for watch exports, only two recorded a downturn in September. Hong Kong, whose figures are as yet unaffected by recent events, held its place in the world average after four months of decline. The United States showed steady growth, as in August and despite a very unfavourable base effect. After two very good months, China once again fell back into the red, albeit by only a few points. Japan recorded its most modest increase of the year but remains on a very positive trend. The main European markets recorded mixed performances, resulting in a slight downturn for the continent as a whole.

(Source: Federation of the Swiss Watch Industry)
(Source: Federation of the Swiss Watch Industry)
(Source: Federation of the Swiss Watch Industry)
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