www.worldwatchweb.com - The strong growth recorded previously by Swiss watch exports was interrupted in 2009. For the year as a whole, the result totalled 13.2 billion francs. This level is 3.8 billion francs below that registered in 2008, corresponding to an annual decline of 22.3%. The sector was hit by a general fall in demand linked to the world economic crisis and suffered on all of its markets and in all segments.
The value of Swiss watch exports began the year 2009 with very marked rates of decline which held steady at between -20% and -33% until October. A recovery was evident in November and December, which months recorded single digit declines.
Signals perceived on the markets indicate that 2010 should see a turnaround for Swiss watch exports. It will however be modest and will only really be felt in the second half of the year, when the annualised variation will return to positive rates.
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Source: Federation of the Swiss Watch Industry FH
www.fhs.ch
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