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Swiss watch industry exports have reverted to the sustained trend

22 november 2018

After the isolated fall in September, Swiss watch industry exports have reverted to the sustained trend. At just under two billion francs (1.987 billion precisely), they were 7.2% higher than in October 2017.
Over ten months, the result has remained at +7.5%, in line with the annual forecast, the Federation of the Swiss watch industry reported.
Bimetal watches reported the biggest rise at +10.6%. In terms of volume, steel watches remained flat while the other materials and other metal categories posted a substantial fall. In all, the number of timepieces exported fell by 9.8%.

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Image credit: Federation of the Swiss Watch Industry


As to the price ranges, the results showed a wide discrepancy. Watches priced at less than 200 francs (export price) were distinctly lower, while demand for timepieces costing more than 3,000 francs proved sustained with a rise of more than 10%.
The three foremost export countries and many other smaller markets reported double-digit growth. Hong Kong gained 10.3% and the United States 11.1%. China recorded one of its biggest monthly increases for the year at +24.1%. Japan (-1.0%) was down slightly because of a highly unfavourable base effect. The main European markets such as the United Kingdom (+5.0%), Germany (+8.7%) and France (+11.6%) benefited from a positive dynamic with the notable exception of Italy (-14.7%) and Spain (also -14.7%).

Alex Shishlo, Editor of the Rough&Polished European Bureau in Brussels