The value of Swiss watch exports rose in 2005’s first half, even as the number of units exported declined.
The overall value totaled 5.6 billion francs ($6.7 billion), up 11 percent over January–June 2004, says the Federation of the Swiss Watch Industry FH. April, May, and June each topped the 1 billion franc mark.
Among products, exports of finished watches had a total value of 5.1 billion francs ($6.1 billion), up 12.3 percent. Gold timepieces (up 20.3 percent) contributed to nearly half the increase. Steel watches (up 8.2 percent) and bimetal watches (up 20.9 percent) also helped. The total number of watches exported fell by 820,000 units to 11.2 million, a 6.8 percent drop, mainly the result of declines since February in lower-priced watches.
Among major markets for Swiss watches, the United States—its top market—posted a 14.1 percent increase in total value (956.2 million Swiss francs, or $1.1 billion). Most of the largest markets showed a positive trend in 2005’s first half, said FH, including Asia, Hong Kong, Japan, Singapore, the United Arab Emirates, China, Taiwan, and Saudi Arabia.
Swiss Watches Top 15 Markets
|Market||Millions of Swiss Francs||% Increase/Decrease|
Source: Federation of the Swiss Watch Industry FH
|1. United States||956.2||14.1%|
|2. Hong Kong||839.4||8.9%|
|7. United Kingdom||271.3||11.2%|
|10. United Arab Emirates||174.5||22.9%|
|13. Saudi Arabia||86.2||8.0%|