Business Information – The Federation of the Swiss Watch Business Experiences Watch Exports Up 1.four% for the First-Half 2019

The FHS (the “Fédération de l’industrie Horlogère Suisse” or Federation of the Swiss Watch Business) simply launched the export statistics for the primary half of 2019. Ex-factory shipments of Swiss Watches rose 1.four% in worth to CHF 10.666 billion. For the month of June, exports dropped by a formidable 10.three%, thus having a powerful impact on the complete semester outcomes.

This efficiency follows two years of development (2017 and 2018), however a number of years of downturn. These outcomes are echoing the general development development of the posh business. Nonetheless, analysts stay cautious on the watch business’s prospects. The variety of watches exported is down, accentuating the development noticed for years. The variety of watches exported fell down from 29.656 million watches in 2000 to 23.740 in 2018.

Swiss watch manufacturers are dominating the high-end market however are increasingly below strain for the entry-level section. Specifically, the appearance of the smartwatch has come on the expense of the lower-price Swiss watches. Consultants forecast that in 2019, Apple alone will outsell the complete Swiss watch business by quantity… The typical export value of a Swiss watch was CHF 1.000 over the primary half of yr 2019. In 2000, this common value was CHF 312.

EXPORTS BY CONTINENT – GROWTH FOR THE AMERICA AND ASIA

The business’s development for the primary half of the yr 2019 is pushed by Asia (+2.2% for Asia and +four.four% for the Far East) and the Americas (+four.6%), as soon as once more accentuating the dependence of the Swiss watch business on China. The development is nearly flat in Europe (-Zero.6%) whereas exports to Africa (-9.2%) and Oceania (-11.2%) are down over the primary semester.

By market, the highest 6 markets are Hong-Kong (CHF 1.449 million, nonetheless at -6.6 %), the USA (CHF 1.158 million, +7.1 %), China (CHF 926 million, +13.5 %), Japan (CHF 798 million, +21.eight %), the UK (CHF 698 million, +26.three %) and Singapore (CHF 599 million, +12.eight %).

Yesterday, Swatch Group reported gross sales down three.7% at fixed trade charges, for the primary half of 2019. This morning, Richemont launched a enterprise assertion in regards to the quarter ended June 30th, reporting a 9% development at fixed trade charge over the interval (+three% together with on-line distributors).

For extra data, please go to www.fhs.swiss.

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