The Luxury Watch Blog

Swiss watch exports for the first half of the year increased 15.5 percent to 7.2 billion Swiss francs (about $5.9 billion), compared with the same period last year, according to the Federation of the Swiss Watch Industry (FH).

For the month of June, Swiss watch exports increased 18.5 percent to 1.39 billion Swiss francs (about $1.15 billion).

The gain in the first half of 2007 compared with the same period last year is already nearly 1 billion Swiss francs (about $830 million) and “augers very well for 2007 as a whole,” said the FH.

Over the first half of the year, the value of watch exports increased by 15.4 percent to 6.6 billion Swiss francs (about $5.5 billion). Precious-metal timepieces showed the highest rate of growth, and no materials lost ground.

In the first six months, 11.8 million wristwatches left Swiss territory, an increase of 410,000 pieces compared to the same period last year. Steel products showed the most significant increase with a gain of nearly 800,000 units. In contrast, other metals (-140,000 units) and other materials (-310,000 units) declined significantly.

Watches costing less than 3,000 Swiss francs (an export price of about $2,489) saw their value increase by 7.6 percent. Timepieces costing more than 3,000 Swiss francs increased 23.7 percent by value and 13.5 percent by volume.

The United States remained a highly attractive market for Swiss watch manufacturers in the first half of 2007. Hong Kong continued to improve, while Japan registered one of the lowest rates of growth, confirming its slowdown. Italy and France turned in average performances; however, Germany lagged behind. The Chinese and Russian markets have outperformed all others so far this year.

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