After three months of growth, Swiss watch exports fell in September by 7.6%, to 839.5 million francs. This fall had been expected for some time, on account of the economic situation since the beginning of the year, particularly in the United States. It also reflects the impact of the recent terrorist attacks and the resultant economic situation, but it is still too early to assess the full ramifications. Considered over three quarters, total value rose by 6.7%, practically half a million francs “ahead” compared to the end of September 2000.

For once, the advance of gold was moderate in September. The “locomotive” material rose by1.4% in value, while the number of finished watches fell by 2.9%. Platinum, while still rising steeply, did not however do as well as in previous months, with sales up by 28.4%. Over nine months, precious metals still recorded very comfortable growth rates. Though falling off in September, steel products rose by +1.3% during the period January-September.

Of the thirty main markets for Swiss watches, fifteen are in decline compared to September 2000. Among the top six, the United States fell by 28.9%, Hong Kong by 4.0%, France by 9.6% and Italy by 44.9%! This new scenario does not change the classification of the first nine months, with only the United States (-9.4%, 1,155.5 million) and Italy (-5.5%, 575.6 million) experiencing a downturn. Hong Kong (+9.2%, 1,103.0 million), Japan (+18.7%, 783.1 million), Germany (+8.4%, 543.1 million) and France (+17.5%, 519.1 million) recorded steady growth.

Source and ©: Federation of the Swiss Watch Industry