Monday, 25th July 2005 (4674 views)

The value of Swiss watch exports continued to grow in June boosted by a 20.3 per cent growth in the exports of gold timepieces.

The increase in gold sales contributed to nearly half the overall increase growth in Swiss watch exports during the six months to end June 2005.

The value of Swiss watch exports exceeded the one billion franc mark for the third consecutive month, rising 0.6 per cent to 1,030.4 million. For the first half-year as a whole, the value of Swiss watch exports amounted to 5.6 billion francs (£2.49 million), or 11 per cent more than in January-June 2004, while the moving average over twelve months rose by 9.7 per cent.

The slowdown in rate of growth in 2005 compared with 2004 was the result of an exceptionally high rate of growth in 2004, a very unfavourable base effect, and a fall in the exports of lower-priced watches, according to figures released by the Federation of the Swiss Watch Industry (FH) on July 21.

Swiss watch exports to all top ten destination markets increased during the six month period, despite the difficult economic climate in various markets, particularly Europe. The industry predicts positive sales during the second-half of the year.

 

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