Watch exports rose by 6.7 per cent in value (export price) to 17 billion CHF (almost $14.6 billion US), topping the previous year’s results for the fifth straight time. However, the total number of export units increased by just 0.8 per cent to 26.2 million watches, a gain of only 210,000 units.
FH says the deepening global recession—particularly in the United States—showed a marked downturn in September, with 2008’s fourth quarter exports dropping 7.8 per cent. Usually the best-performing month, November plummeted 15.4 per cent ahead of the Christmas buying season.
While China saw a 43 per cent gain in value to $708.6 million CHF, the United States fell three per cent to a little more than $2 billion CHF, Japan fell 4.5 per cent, and the United Kingdom dipped 2.7 per cent.
The Middle and Far East recorded significant growth, with Asia showing the greatest growth with an increase of 13.2 per cent.
