Save E-mail

Send this URL to a friend:

* - Denotes a required field.
Your Name*
Your Email Address*
Friend's Name*
Friend's Email Address*
Subject*
Message*

Print

Bienne, Switzerland--Swiss watch exports continued to grow in the first half of 2011, their value increasing 19 percent to approximately $10.63 billion after six months, placing the sector above the benchmark result of 2008.

Wristwatches made up the largest share of clock and watch industry exports, their value increasing 20 percent compared to January – June 2010. In six months, Swiss manufacturers exported 14 million watches, representing an increase of 2.6 million units as compared to 2010.

All price segments recorded two-digit growth, both in terms of value and volume. The $240 - $610 export price category registered an increase of 30 percent, and watches costing less than $240 accounted for more than 70 percent of export in volume terms and recorded a high level of growth. Timepieces costing more than $3,600 show a flat progression rate at a high level.

Gold watches played an important role in terms of growth by value, due to the high price of gold, which was $1,600.61 an ounce as of press time on Friday.

Other watch-making products exported by Switzerland also recorded growth, with exports of movements seeing an increase of value at nearly 10 percent.

The United States received $1.12 billion in Swiss watch exports in the first half of 2011, a nearly 20 percent increase in comparison to the first half of 2010, ranking the country second in major markets that receive the goods.

Hong Kong ranked first, receiving $2.13 billion of the goods, a 24 percent growth; China ranked third, receiving $874 million, a 47.8 percent growth; France ranked fourth at $761 million, for 25 percent growth; and Singapore ranked fifth at $617 million, up 29 percent.

All 15 of the Swiss watch industry’s main markets recorded a positive growth trend for the period. Asia increased at a higher rate than either Europe or the United States, absorbing more than half of Swiss watch exports.