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Figures relating to the value of Swiss watch exports for June 2013 have revealed an annual decline of 3.1%, with gold watches recording a double-digit drop. However, the UK faired well with its Swiss watch imports for June totalling CHF85.2 million (£59.3m), up 15.2% on 2013. The latest figures from the Federation of the Swiss Watch Industry (FH) showed that in June, Swiss watch industry exports, were worth CHF1.9 billion (£1.3bn), which was a 3.1% drop on the results for June 2012. However, despite the year-on-year decline, the FH said that the results were close to those in May this year, even though there had been a distinctly more unfavourable base effect. The FH also highlighted that the reduction is partly due to the fact there was one less working day in the month than in June 2012. In the context of the first half of 2013, watch industry exports reported near-zero growth – up 0.8% to CHF10.2bn (£7.1bn). A drop in value has been attributed to gold watches in both May and June. For June, gold watches reported a double-digit fall. The value of gold wristwatch exports dropped by 12.9% from June 2012 to CHF617.4m (£429.7m). Steel watches and bimetal pieces countered the gold drop with significant growth. Worth CHF678.5m (£472.3m) in value, steel watches were up by 3.6%. The FH said that steel watches remained stable compared to June 2012. It added: “The total number of timepieces exported was influenced by the categories of other materials and other metals, which were distinctly lower.” In terms of the price brackets of watches, the FH reported that trends remained similar to those recorded in May. Only models with an export price of between CHF200 (£139) and CHF500 (£348) were found to have achieved growth, which was said to be 20%. Watches below CHF200 (£139) fell by 14.8% in volume terms. Luxury watch exports were fewer with watches priced at more than CHF500 (£348) falling by 3.4%, in value terms.
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1 Swatch Group 1st half revenues 2011
2 A bit of - British - History
3 Welcome to
4 Price fixing - Watches
5 Poor standards in watch magazines
6 Do we love watches from Japan?
7 Maurice Blum - A brief comment
8 International warranty, worth knowing the secrets.
9 Even shit can shine!