In the first half of 2012, the Swiss watch industry has exceeded the record results from 2011, by exporting products in the value of 10.1 billion francs. Upturn was achieved on most of the main markets, with Hong Kong that once again confirmed its leading position and the United States that have stabilized their growth at a high level. Watches made from precious metals recorded the strongest increases.
Despite a high base of comparison and unfavorable economic conditions, the Swiss watch industry has been showing no signs of weakness. The record value of exports by Swiss watch manufacturers has been surpassed before the middle of the year, which is an increase of 16.4 percent compared to 2011. The sector noted a steady growth, showing a two-digit rate in every month, except April. The industry recorded the highest upturn of 21.7% in June. Thus, the trend has outpaced the final annual target, but the forecasted growth is still half as high as that of 2011.
The major part of watch and clock exports includes wrist watches, particularly those from the luxury segment (other exported products totaled 615.8 million francs). While the total value of exported watches was 9.5 billion francs, which is 16.9 percent higher than in the same period last year, their number (14.1 million units) is similar to the previous level (+1.4%).
Particularly gold watches recorded the highest increases, catching up the export value of stainless steel timepieces, with considerably lower count of pieces. While watches that cost less than 200 francs noted a decline in the number of pieces (-1.9%), the value of the exported pieces that cost more than 3,000 francs went up by 25.4% compared to 2011.
China’s progress has been slower in recent months, but still kept pace with the world’s average. Thanks to the dynamic German market, the situation inEuropeimproved sharply at the end of the period. In Asia, all markets recorded positive results, while theMiddle Eastmarket stayed close to the world average.
Check trends of fifteen main markets in the first half of 2012 (total values in million francs and the percentage variations by comparison with the first half of 2011):
| 1. | Hong Kong | 2,175.4 | +25.7% | |
| 2. | United States | 1,073.7 | +18.3% | |
| 3. | China | 833.8 | +16.2% | |
| 4. | France | 614.8 | -1.7% | |
| 5. | Singapore | 539.3 | +6.7% | |
| 6. | Germany | 536.1 | +35.7% | |
| 7. | Italy | 535.7 | +8.6% | |
| 8. | Japan | 504.4 | +31.3% | |
| 9. | United Arab Emirates | 404.1 | +13.0% | |
| 10. | United Kingdom | 336.9 | +16.9% | |
| 11. | Taiwan | 226.9 | +34.2% | |
| 12. | South Korea | 225.0 | +29.8% | |
| 13. | Spain | 167.9 | -0.2% | |
| 14. | Saudi Arabia | 160.4 | +18.1% | |
| 15. | Thailand | 134.9 | +4.7% |
