Swiss watch exports slow ahead of Christmas

The Federation of the Swiss Watch Industry (FHS) has announced the latest Swiss watch export figures for the month of November, with totals increasing 4.5% – a figure below the annual average for 2012.

The FHS said the increase was still notable, however, as figures hit their highest ever monthly value of CHF2.2 billion (£1.48bn), showing that while export volume and growth has slowed the value of watches being exported remains at a particularly high level, something the FHS has previously predicted.

Gold and steel watches are said to have “buoyed” growth, while bimetallic products continue to lose ground, a trend that has persisted for several months.

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Gold watch exports were up 9.3%, while platinum and gold plated silver watches exhibited drops of 30% and 69% respectively.

With a view to price at export, watches costing less than CHF200 (£135) fell 2.3%, while the middle category of CHF200 to 500 (£135 to £337) is said to have bounced back somewhat, showcasing a steep rise in export figures.

The export of Swiss timepieces between CHF500 and 3,000 (£337 to £2,023) stagnated in comparison with November 2011, while those costing more than CHF3,000 exhibited a healthy increased of 6.2%.

Exports to Hong Kong showed a 13.5% drop in volume, while China’s growth showed a slowing pace, with a nominal increase of just 1.7%.

The United States meanwhile maintained the level of growth recorded in recent months, while the German and Italian markets recorded sharp increases. Singapore recovered slightly following a marked lean period at the end of the summer, with exports up 6.4%.

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