Swiss Watch Exports Slightly Up in 2019, Outlook Remains Uncertain for 2020

The FHS (Federation Horlogère Suisse or the Swiss Watch Federation) just delivered the export measurements for 2019. Swiss watch exports showed development in December (+5.8% at CHF 1.7 billion). For the entire year 2019, exports rose by 2.4% in an incentive at CHF 21.681 billion, nonetheless, the units delivered dropped by 13.1% at 20.634 million and the viewpoint remains very questionable for 2020. In the event that figures have now move for the third back to back year, the presentation accomplished is as yet second rate compared to that of 2014.

Exports across geographics

Despite the complex circumstance in Hong Kong, exports to Asia rose by 2.3%. Asia stays the primary objective for Swiss watch exports with 52.9% of the complete worth. The increment in China (+16.1%), Japan (+19.9%) and Singapore (+14.6%) specifically helped offset the stamped withdrawal in Hong Kong (- 11.4%). The deals to the Middle East were down (- 3.9%).

Swiss watch exports to Europe were comprehensively in accordance with the earlier year (+1.3%), yet with checked variations between the principle nations. The pattern was quite useful for the UK (+10.8%), which is as yet the principal European objective for Swiss watches, trailed by Germany and France, both with level numbers compared to 2018. Altogether, Europe represents 30% of Swiss watch exports.

The pattern was useful for the Americas, specifically for the United States (+8.6%). Exports to South America were down 4.5%. Generally speaking, regardless of the compression in Hong Kong, which represents more than 12% of the Swiss watch exports, the great exhibitions of other significant business sectors (USA, China, Japan and UK) figured out how to save exports on the ascent for 2019.

Exports by Products

As normal, exports of wristwatches directed the overall pattern. Their worth arrived at CHF 20.466 billion (for an all out market of CHF 21.680 billion), with a positive pattern up 2.6%. Notwithstanding, observable is the decrease in units dispatched. The quantity of watches exported tumbled to 20.634 million pieces (- 13.1%). On the off chance that the amount of mechanical watches exported is somewhat down (7.235 million, at – 3.9%), the pattern stays extremely negative for Swiss Made electronic watches (13.398 million, at – 17.4%). In the course of recent years, the quantity of electronic watches exported dropped by 34.5%. Exports of developments were down 10.2% in units, at 4.444 million.

Overall, if very good quality Swiss watches hold their allure and have delighted in persistent development, the low/mid-end sections have been feeling the squeeze for quite a while. Specifically, the smartwatch extension appears to come to the detriment of the lower-estimated Swiss watches. Apple sold a larger number of watches than the whole Swiss watch industry (with assessed deals of around 30 million Apple watches in 2019).

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