Swiss watch exports: first half of 2016

Swiss watch exports: first half of 2016

Swiss watch exports announced a downturn in the initial a half year of 2016 dependent on information delivered by the Federation of the Swiss Watch Industry.

The result was influenced by the significant Hong Kong market which neglected to recuperate.

The overrated Swiss Franc, insecurity connected to psychological oppression and changes announced in tourist streams additionally punished interest for Swiss watches.

Watch industry exports were worth 9.5 billion francs in the initial a half year of the year against in excess of 10 billion in similar time of the four previous years.

This is a decay of 10.6% compared to January-June 2015. The conjecture for the second 50% of 2016 shows a slight improvement of the situation although the year-on-year result will probably report a downturn comparable to the figure recorded as of now.

Over a large portion of the reduction in value is attributable to products in precious metals which lost 16% in the principal half. Steel watches were less influenced with – 6.4%.

Regarding volumes, most value fragments announced a double digit decrease with the greatest reduction (15%) in the 200 to 500 Swiss Francs value range.

During the primary portion of 2016, the fifteen principle markets showed the accompanying pattern (all out value in million francs and % variety by comparison with a similar time of 2015):

1

Hong Kong 1,189.5 -26.7%

2

USA 1,051.0 -9.3%

3

Japan 631.9 +2.9%

4

China  590.8 -14.7%

5

Italy 588.5 -12.6%

6

Germany 558.3 -4.9%

7

United Kingdom 529.9 -5.4%

8

UAE 492.7 +2.7%

9

France 490.8 -14.8%

10

Singapore 485.6 -12.8%

11

South Korea 313.8 -8.9%

12

Spain 218.7 -6.1%

13

Saudi Arabia 186.3 -4.6%

14

Taiwan 181.6 -18.0%

15

Austria 141.1 -2.0%

As demonstrated in the table, Japan was one of only a handful few business sectors showing development (+2.9%) along with United Arab Emirates which announced a +2.7% rise.

Every one of these figures allude to exports information and not to deals to end-consumers. Contrasts between these two kinds of information may in this manner exist. These information must be viewed as combined figures gathering export results from all Swiss watch companies and, of course, they can’t mirror the individual results of one particular company or group of companies.