The Federation of the Swiss watch industry has reported good results for 2013, with exports at a record 21.8 billion CHF, a 1.9% increase (approx 400 million CHF) on 2012’s figures.
The second half of 2012 (+3.0%) showed a greater increase than the first (+0.7%), and the expectation is that growth will continue in 2014.
Watches accounted for nearly 95% of the total value of exports in 2013, with a growth of 2.0% to 20.6 billion CHF. Switzerland exported 28.1 million timepieces, a 3.6% drop on 2012.
Watches costing less than 200 CHF (export price) fell 8.5% to 18.2 million units, those 200-500 CHF increased by 14.2% (12% in value), the 500-3,000 CHF category fell by 1.4% though the volume was +0.2%, and those over 3,000 CHF grew 2.8% (value).
As for the market breakdown, Hong Kong remained at the top with 4,125,000,000 CHF, but this was a fall of 5.6% on 2012. Second place for 2013 went ot the USA, with 2,239,900,000, an increase of 2.4% and third place to China, with 1,446,500,000, a fall (yes a fall) of 12.5%.
The growth in watch exports was in large part thanks to growth in Europe, particularly Germany (+9%), Italy (+4.6%) and the U.K. (+18.2%).
China, still a darling of the industry, recorded the worst result, down 12.5%.
Amongst the other Asian markets, Japan and Thailand both had growth, Singapore and Taiwan remained stable, and the Middle East recorded a 10.7% increase.
In terms of the core watch materials, gold and steel saw their value increase across much of the sector, with bi-metal decreasing.