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The Swiss watch industry maintained its momentum during the month of September. Its exports amounted to 1.4 billion francs, an increase of 25.5% compared to September 2009. After nine months, the sector has once more confirmed its clearly positive trend and even picked up the pace slightly. From January to September, watch exports were up 20.8%, to 11.3 billion francs.
This sharp increase was underlined by materials such as gold and steel, which recorded growth of more than 30% by value. Bimetallic watches increased by only half the average rate. The rate of increase in the number of watches exported outstripped growth by value, thanks mainly to steel timepieces and the category of other materials.
Exports of watches priced between 500 and 3,000 francs (export price) posted a below-average result during September. Their value increased by 10.0%. All other price segments showed growth equal to or greater than 30%, both in value and volume terms.
The trend among main markets showed no significant change in recent months. Hong Kong remained one of the most dynamic markets for Swiss watch exports. The United States recorded growth above the world average. France emerged as the top European market in September while Italy lagged conspicuously behind, and Germany recorded a downturn (-10.0%). China stayed close to its average over recent months and remained one of the most attractive destinations for Swiss watch manufacturers from January to September.
Source: www.fhs.ch
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