Swiss Watch Industry with a new absolute record - 10 billion francs landmark passed

2000 proved an exceptional year for the Swiss watch industry. For the first time, exports passed the “magic” ten billion Swiss francs mark to reach 10.297 billion. This fantastic result, representing a 14.4% increase on 1999, reflects uninterrupted growth for the past seventeen months. Sustained demand on the major markets, the strength of the dollar against the Swiss franc and the growing fascination of consumers with luxury products enabled all our expectations to be surpassed.

This record result in sales terms was accompanied by a fall in volumes exported in the complete watch sector. Swiss manufacturers exported 29.9 million units, i.e. 4.6% less than in1999. But the value of these products rose 14.1% to 9.3 billion francs. The fall in volumes affected quartz watches (-5.1%), while sales of traditional mechanical watches were identical in volume terms to 1999. Both product types achieved a gain in value of around 14%.

The main markets for the Swiss watch industry proved exceptionally dynamic in the year 2000. The United States continued to take the lion's share of Swiss watch products worth nearly 2 billion francs. In Asia, most countries reverted to the level achieved before the 1998 crisis. In Europe, France, Great Britain and Italy led the field.

(Facts and figures from the Federation of the Swiss Watch Industry's report.)