Advanced Search

Polished Diamond Prices Stable, Swiss Watch Exports Soar

Polished Diamond Prices Stable, Swiss Watch Exports Soar

Feb 6, 2013 6:00 PM   By Rapaport News
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share


The Swiss watch industry recorded a 10.9 percent jump in the value of watch exports in 2012, at $23.4 billion (CHF 21.4 billion), according to the Federation of the Swiss Watch Industry trade group.  Month-to-month variations in exports were more pronounced in the second half as the market weakened and exports contracted in September (down 1.4 percent) and December (down 5.6 percent). Swiss watch industry exports were comprised mainly of wristwatches, which rose 11.5 percent to $22 billion (CHF 20.2 billion). However, the number of units shipped fell 2.2 percent to 29.1 million. The increase in the average price of units, at $759 (CHF 693) was due mainly to a larger share of more expensive watches.

Gold timepiece exports jumped 20.5 percent, steel watch exports rose 8.2 percent and bimetallic pieces rose 5.3 percent. Declines were registered for  categories of other materials (down 4.5 percent) and other metals (down 7.9 percent).

Timepieces costing less than CHF 200 (export price), which accounted for 68 percent of total volume, showed a negative trend in terms of the number of timepieces (down 5.9 percent), while their value remained stable. Other price segments were more buoyant. Between CHF 200 and CHF 500, the number of timepieces increased 9.3 percent, CHF 500 to CHF 3,000 rose only 0.3 percent, however, watches costing more than CHF 3,000 surged 18 percent.  swiss watch exports

Other products, including parts and clocks, rose 2 percent. The top market by far for Swiss watches was Hong Kong, followed by the U.S. in a distant second place, China, France, Germany, Italy, Singapore, Japan, United Arab Emirates, U.K., South Korea , Taiwan, Spain, Saudi Arabia and Russia.

The main markets for Swiss watch exports showed a positive trend in 2012, with the exception of Singapore (down 1.9 percent). The leading market, Hong Kong, saw growth fall from more than 30 percent in 2011 to 6.8 percent in 2012, but finished with a particularly high value at nearly $5 billion. China, in third place, recorded an even more spectacular slowdown, dropping from an increase of 50 percent in 2011 to flat. These changes reflected a cooling of consumer demand in China, due in particular to political factors, according to the group. The Chinese, however, remained important clients for the Swiss watch industry, particularly tourists on their travels abroad.

In second place, the U.S. also lost ground, albeit in a much less marked fashion, ending the year with an increase close to the global average at 10.1 percent. Europe bounced back strongly from the spring, even though not all markets contributed to the same degree. After a major slowdown, France recorded virtually zero growth from the spring and ended the year with a variation of 1.3 percent, but Germany's performance was in stark contrast, jumping 33.1 percent. Italy also picked up the pace, albeit later and to a more modest extent, to end the year with an upturn of 16 percent. Other markets in Europe and the Middle East all recorded strong increases in value terms compared with 2011.

Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share
Tags: Rapaport News, swiss watches exports parts gold diamonds prices china hong kong europe
Similar Articles
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2018 by Martin Rapaport. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are TradeMarks of Martin Rapaport.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.