Swiss watch exports slow ahead of Christmas

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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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