Market upturn for Swiss watchmaking
After what had been heralded as the low point, the value of Swiss watch exports rose sharply in September 2003. Compared to the previous 12 months, growth was 7.9%. In one month, watchmaking products worth 943.8 million francs left Switzerland, ie 69.1 million more than in September 2002. The cumulative result for the first nine months of the year totals 7.0 billion francs. The downward trend has been reversed and the rate of variation has improved, and now stands at -5.2% from January to September. The shortfall compared to 2002 now amounts to 384.5 million francs. This recovery shows every sign of consolidating over the coming months.

Growth recorded by finished watches in September was even more marked than that of other products in the sector, at 8.9%. This good result was due in particular to steel, bimetallic and platinum timepieces, which all registered gains of more than 15%. Of the 15 main markets, only four lost ground in September. The United States confirmed its first place ranking with a 28.2% increase to 167.7 million francs. Hong Kong (118.1 million, -12.0%) and Japan (88.0 million, -2.7%) fell back, while Italy recorded a positive performance (67.0 million, +4.3%). The remaining important markets of the Middle East and Far East showed very marked improvements. Over nine months, the only markets to show a positive balance are the United States (1,142.8 million, +1.8%) and the United Kingdom (400.7 million, +3.5%), sixth in the ranking.

Source: www.fhs.ch
October 2003