Swiss watch exports recorded a very similar result to that achieved a year ago. Their value, at 1.7 billion francs, corresponds to a variation of +0.6%.
While growth has clearly slowed compared to 2012, the levels attained remain very high, with the first quarter closing at 4.7 billion francs, an increase of 2.4%.
The two main materials represented by steel and gold saw their value increase in March. However bimetallic watches declined by a few points. The total number of timepieces registered a steeper downturn. In one month, 160,000 fewer watches left Switzerland out of a total of 2.1 million units. This reduction was concentrated mainly in the category of other materials.
Wristwatch exports varied according to price in March. Products under 3,000 francs (export price) recorded a decline (-6.4% by value and -7.6% by volume). Above this level, trends were positive. The rise in value (+7.2%) made up for the decline in other segments, while the upturn in the number of timepieces was more modest (+2.7%).
The main markets also recorded mixed results. A negative monthly trend saw Hong Kong continue its marked slowdown (-7.8%). China followed the same path (-31.4%), but in much more pronounced fashion, record- ing a succession of declines in recent months. In second position, the United States also saw its progress checked (+9.2%), albeit remain- ing on an upward trend. Despite a quieter month in March, European growth remained at a high level. Germany (+4.9%) and Italy (+12.1%) registered increases, while France lost ground (-7.2%). In March, the highest rates of variation were recorded in the Middle East.
