Swiss Watch Exports in 2014
Federation of Swiss Watch Industry has prepared a report regarding situation with exports of Swiss watches in 2014. There are some highlights and numbers listed below:
- Annual financial results reached a total 22.2 billion CFH, which is an increase of 1.9% comparing to 2013. So, 2014 was a difficult time, but industry shown slight increasing.
- The first half-year shown an increase in value of 3.1%, but growth was only 0.8% in the second half of 2014.
- Exports by the Swiss watch industry consisted essentially of wristwatches. 28.6 million watches were exported in 2014.
- Growth was buoyed by mechanical watches. Both in value (+3.4%) and volume terms (+8.8%).
- Quartz watches stagnated in volume terms (-0.9%) and lost several points in terms of value (-4.1%).
- The growth was a common feature of 2014 for the different price segments. Watches costing less than 200 CFH accounted for half the rise in volumes. The 200-500 CFH segment slowed its rate of growth, but remained the most dynamic of 2014. Watches between 500 and 3,000 CFH have remained stable. The higher-price watches segment increased by 2.7% in value and volume terms. It contributed greatly to the increase in total value.
- The seven main markets shown the following positive trends in 2014:
South Korea: +18.5%
Saudi Arabia: +11.1%
- The American continent recorded above-average growth – 4.5%, thanks to the United States where the rate of growth was higher still – 6.2%. Asia recorded an upturn of 2.8%. Hong Kong (-0.0%) remains the same level as in 2013.