Swiss Watch Exports Slip in March, Rise in Q1
April 27, 14However, watch exports rose by 4.5 percent to $5.61 billion (4.95 billion Swiss francs) in the first quarter of this year which "marked a very good start to the year for exporting companies."
The value of steel watches increased while that of precious metal and bi-metal timepieces tended to fall, the federation reported. The total number of pieces exported in March was 3.8 percent lower. "It was influenced by steel watches and the category of other metals, while timepieces in other materials reported strong gains."
Watches with an export price of less than $227 (200 Swiss francs) fell sharply in terms both of the number of pieces and of value in March. However, timepieces in the $227-$567 (200 to 500 Swiss francs) segment reported strong gains. "Above 500 francs, the trend proved more moderate."
The $567-$3,400 (500 to 3,000 Swiss francs) range contracted by around 5 percent, while the value of timepieces priced at over 3,000 Swiss francs remained flat compared to March 2013.
"Watch exports to Hong Kong continued to recover, thanks to a significant gain in March. The United States experienced an unfavorable base effect which led to a fall that was barely representative of the trend of the past 12 months.
"Despite a slight monthly downturn, the trend in China continued to recover. It should soon move out of the red. Sales to Japan remained buoyant with five consecutive months of steep rises. The United Arab Emirates did slightly better than their 2013 performance, while the main European markets weakened," the federation added.