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Swiss watch exports increased +11% in 2005 to a record SFR12.3 billion (US$9.5 billion) |
SWITZERLAND. Swiss watch exports increased +11% in 2005 to a record SFR12.3 billion (US$9.5 billion), the Federation of the Swiss Watch Industry (FH) said.
Already showing a very favourable trend in the preceding months, sales increased significantly in the final month of the year to register a total value of SFR1.2 billion, a jump of +23.1% compared to December 2004.
The year exceeded the SFR12 billion sales mark for the first time and surpassed by +10.9% the already high level of 2004.
FH said luxury watches drove demand last year and was optimistic about 2006. “Propelled by the luxury segment, Swiss watches were able to avoid the pitfalls of a less than favourable economic situation, particularly in Europe. Despite the fact that the base of comparison will be very high, the year 2006 augurs extremely well. The final result could exceed that of 2005 by as much as +5% or +6%.”
Products
In December exports of finished watches leapt by +24.5%, reaching SFR1.1 billion. Steel (+23.1%), bi-metallic (+64.4%) and 18ct gold (+13.5%) timepieces were responsible in large part for this increase. The number of exported pieces rose by 130,000 units (+7.4%), due exclusively to steel (+23.3%).
For the year as a whole the total value recorded a level of SFR11.4 billion, up +12.0%. While 18ct gold (+17.0%), steel (+10.3%) and bi-metallic (+13.3%) pieces contributed the most in terms of value, platinum and aluminium registered an increase on a par with the average for other materials.
Despite the positive result achieved by steel timepieces (+230,000 units) in December, total volumes failed to buck the long-term trend and declined by 840,000 pieces (-3.3%) over the 12 months.
Markets
The top ten markets for the Swiss watch industry registered double-digit growth in December, booming by more than +50% for Singapore and China. Over the year as a whole, the US achieved a remarkable performance, despite a very unfavourable base effect, FH said. Hong Kong slowed its pace, while Japan continued its forward momentum.
Europe (SFR4.1 billion, up +8.1%) ended the year with a very satisfactory record. Its main markets, namely Italy, France, Germany, the UK and Spain, performed well for Swiss watch manufacturers.
China moved into tenth place by achieving one of the highest rates of growth. Russia, also a promising market, recorded a slower rate of growth. Although smaller, Australia, Mexico, Austria, Turkey and South Korea were situated above the average.
During 2005 the 15 main markets showed the following trend (total value in million Swiss francs and % change compared with 2004):
1. US 2,147.7 (+14.5%)
2. Hong Kong 1,768.3 (+7.7%)
3. Japan 1,145.1 (+15.7%)
4. Italy 842.1 (+8.4%)
5. France 660.3 (+8.1%)
6. Germany 632.2 (+11.9%)
7. UK 578.8 (+4.8%)
8. Singapore 480.0 (+9.3%)
9. Spain 407.9 (+7.5%)
10. China 351.3 (+25.7%)
11. UAE 346.7 (+14.8%)
12. Taiwan 251.7 (+22.0%)
13. Russia 194.2 (+11.1%)
14. Thailand 189.6 (-2.5%)
15. Saudi Arabia 177.8 (+7.0%)
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