Swiss Watch Making Industry …Update January 2018

Thanks to the base effects from the previous months,January 2018 started on a better note with exports at 1.6 billion francs in January, equivalent to 12.6% growth against January 2017.

Steel and bimetal watches made the biggest contribution. Total volumes were 2.5%
higher.After declining for more than two years, watches costing less than 200 francs (export price) continued to lose ground in January. All the other segments achieved sustained growth, especially in the price range between 500 and 3000 francs which saw an improvement of around +20%.

Hong Kong (+21.3%) which posted its highest monthly increase for over five years. China (+44.3%) climbed up to second place, overtaking the United States (-1.9%), which has been declining for more than two years. Like its Asian neighbours, Japan (+12.9%) also confirmed the strong performance of recent months. Overall, the European markets lagged behind somewhat, apart from France(+19.0%). While the United Kingdom bounced back to +4.6%, Germany (-4.1%) reported a fall, as too did Italy (-4.7%).