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Swiss watch exports exceed CHF2bn in July

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Swiss watch exports for July exceeded CHF2 billion (£1.4 billion), a level that has never been reached so early in the year before, according to the Federation of the Swiss Watch Industry (FH).

Imports to the UK remained strong at CHF 94.2 million (£65.3 million) in July, which was up 9.5% on CHF 86.1 million (£60 million) in 2012.

The total value of Swiss watch exports for July rose by 2.2%, which takes the cumulative result since January to an increase of 1.1%. They were up from the June value of CHF1.9 billion (£1.3 billion). These latest results mean that July was the fourth best month on record. The report said that the growth was more measured than in previous years but ensured that the sector remained at a very high level.

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Gold watches continued to show a sharp slowdown, with an 11.1% drop in terms of units and an 8% drop in value, in July 2013, compared to July 2012. However, steel and strong upturns in the other categories of metals and the other materials boosted the total value of exports. When it came to the number of timepieces exported, steel set the standards with a 3.8% increase. The category of other materials rose more steeply, while other metals dropped below the level of July 2012.

In terms of price segments, the main ones were stable or recorded minor increases, except the CHF 200 to 500 (export price) category, which rose by 20.6% in value terms and 25.4% in volume. Volumes were comparable to 2012 for the less than CHF 200 category, with a drop of 0.8%, and for watches of more than CHF 3,000, the result was also stable, with a 0.6% drop by value.

Imports to the UK remained strong at CHF 94.2 million (£65.3 million) in July, which was up 9.5% on CHF 86.1 million (£60 million) in 2012.

Additionally, the slowdown in Hong Kong was less marked in July and the market recorded a level identical to 2012, the US also matched its previous result.

After recovering in June, China repeated its downward trend but on a slower trajectory than at the beginning of the year.

Tags : swiss watches July is fourth best month on record for Swiss watch exports
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