Swiss Watch Business Sees Record Year With Downbeat End

Swiss watch exports rose 1.9 percent in 2014 to a record 22.2 billion Swiss francs ($24 billion), but the year ended on a negative note, according to the statistics from the Federation of the Swiss Watch Industry.

The 1.9 percent growth in exports matches the rate of growth in 2013, the group said. By contrast, in 2012, exports rose 11 percent. 

A downbeat December cast a pall on the results, with sales falling 2.5 percent. The year-end numbers were due to a 10 percent drop in exports to Hong Kong, where the market has yet to right itself following a spate of protests, as well as a 27 percent plunge in exports to China.

While exports to the U.S. fell 0.9 percent in December, the group said the American market performed well in 2014, particularly in the final quarter.  

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JCK News Director