The year 2010 saw a very clear-cut recovery after the significant downturn recorded in 2009. The sector exported the equivalent of 16.2 billion francs, i.e. 2.9 billion more than the previous year. This growth of 22.1% clearly indicates a return to a healthy and robust situation for Swiss watchmaking, with a level slightly higher than the 2007 result, which was considered at the time to be excellent.
The recovery took effect from the month of January 2010. All months in 2010 showed an upward trend, often in excess of 20%, or even 30% in March and June. Growth accelerated each quarter, finally bringing watch exports to a rate of increase of 24.3% in the second half-year, compared to 19.6% in the first.
The decline in 2009 has not been fully erased, since the sector has still to return to its level of 2008. The latest results indicate however that the recovery is based on firm foundations and is set to continue in 2011, even though as yet not all players and regions are benefiting to the same extent.
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Source: Federation of the Swiss Watch Industry FH - www.fhs.ch
