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According to the recent figures released by the Federation of the Swiss Watchmaking Industry the Swiss watch exports dropped by 3% during the period Feb-June 2013 compared with the same period in 2012. However total export figures remain slightly higher for the first half of 2013 compared with the same period in 2012. The export value of CHF 10.2 billion for the first six months of 2013 is in line with expectations and leaves the industry on track to exceed last year’s overall export turnover. Paradoxically, export figures for more high-value watches in precious metals fell but this fall was offset by growth in steel timepieces, which account for one in two timepieces exported.
Markets In the first half of 2013, the fifteen main markets showed the following trend (total value in million francs and % variation by comparison with the first half of 2012):
1 Hong Kong 1,934.9 -11.1%
2 USA 1,085.8 +1.1%
3 China 677.7 -18.7%
4 Germany 607.9 +12.9%
5 Italy 576.6 +7.6%
6 France 555.8 -9.7%
7 Singapore 525.9 -2.6%
8 Japan 523.2 +3.7%
9 United Arab Emirates 482.9 +19.4%
10 United Kingdom 433.8 +28.4%
11 South Korea 237.7 +5.6%
12 Taiwan 218.1 -4.1%
13 Spain 199.9 +19.0%
14 Saudi Arabia 182.8 +13.0%
15 Thailand 132.2 -2.0%
While Hong Kong remains the number one export destination for Swiss watchmaking products, like all Far Eastern markets it showed a decline over the first half of the year (-11.1 per cent). China, in third place, showed a decline approaching 20 per cent and now accounts for barely ten per cent more exports by value than Germany, despite its huge size. Growth in the second-placed United States slackened but remained positive. Overall, Europe proved a very attractive market for the Swiss watch industry, except for France, which recorded a substantial fall. Germany and Italy posted significant advances, while the United Kingdom and even depressed Spain reported very strong growth. United Arab Emirates recorded a substantial increase of 19.4% while K.S.A has topped 13.0%.