Swiss watch exports in 2007 had “a record year, and growth unrivaled for 18 years,” says the Federation of the Swiss Watch Industry FH.
For 2007 as a whole, watch exports tallied about $14.6 billion, a 16.2 percent gain. Watches in two categories, 18k gold and steel, made the biggest gains in export value, up 24.9 percent and 14.7 percent, respectively.
In total, 25.9 million wristwatches left Switzerland, over a million units more than in 2006 (up 4.2 percent). Timepieces with an export price of more than 3,000 Swiss francs (about $2,746), had very high rates of growth. They increased 25.3 percent in value and 16.7 percent in numbers. Watches under 3,000 Swiss francs rose 7.4 percent in value and 3.7 percent in volume.
Switzerland’s Top 10 Watch Export Markets, by Value (2007)
|Country||Value (U.S. dollars)||% increase or decrease|
Source: Federation of the Swiss Watch Industry
|United States||2.233 billion||+6.7|
|Hong Kong||2.226 billion||+25.0|
|Great Britain||602.4 million||+11.6|
|United Arab Emirates||482.6 million||+36.6|