The Federation of the Swiss Watch Industry FH reports that November recorded the highest monthly value of the year for Swiss watch exports, and also the most moderate decline at -10.6% compared with November, 2008. The report notes that while the November figures are negative, they represent a marked improvement over prior months. For 2009 overall, levels remain low however, with exports down 23.7% for the first 11 months.
For November, steel watches performed well, declining only 3.8%, and bimetallic timepieces registered a gain of 8.4%. Gold watches were down 17.1% and platinum were off 53.5%. Looking at leading markets, exports to the USA were down 21.4% while Germany was down 23.3%. Exports to China increased of 36.1%. The largest market, Hong Kong, was off 14.2%.
In terms of price points (export values), watches priced at 200-500 francs increased 20% both in value and unit volume. The most expensive category – watches priced at 3000 francs and up – showed the largest decline with their export value falling by 17.8%.
Source: Federation of the Swiss Watch Industry (.pdf format)
