The Federation of the Swiss Watch Industry Reports Watch Exports Up 1.4% for the First Half of 2019

The FHS (the “Fédération de l’industrie Horlogère Suisse” or Federation of the Swiss Watch Industry) just delivered the fare measurements for the primary portion of 2019. Ex-manufacturing plant shipments of Swiss Watches rose 1.4% in incentive to CHF 10.7 billion. For the long stretch of June, trades dropped by 10.3%, hence having a critical negative impact on the whole semester trend.

This execution follows two years of development (2017 and 2018), however quite a while of decline. These outcomes are repeating the general development pattern of the extravagance business. In any case, investigators stay careful on the watch business’ possibilities. The quantity of watches traded is down, complementing the pattern noticed for quite a long time. The quantity of watches sent out tumbled from 29.6 million watches in 2000 to 23.7 in 2018.

Swiss watch brands are overwhelming the very good quality market however are increasingly more under tension for the section level portion. Specifically, the appearance of the smartwatch has come to the detriment of the lower-value Swiss watches. Specialists gauge that in 2019 Apple alone will beat the whole Swiss watch industry by volume… The normal fare cost of a Swiss watch was CHF 1,000 over the principal half of 2019. In 2000, this normal cost was CHF 312.

EXPORTS BY CONTINENT – GROWTH FOR THE AMERICAs AND ASIA

The industry’s development for the principal half of 2019 is driven by Asia (+2.2% for Asia and +4.4% for the Far East) and the Americas (+4.6%), indeed highlighting the reliance of the Swiss watch industry on China. The pattern is practically level in Europe (- 0.6%) while fares to Africa (- 9.2%) and Oceania (- 11.2%) are down over the first semester.

By market, the main 6 business sectors are Hong Kong (CHF 1.449 million, anyway at – 6.6 %), the USA (CHF 1.158 million, +7.1 %), China (CHF 926 million, +13.5 %), Japan (CHF 798 million, +21.8 %), the UK (CHF 698 million, +26.3 %) and Singapore (CHF 599 million, +12.8 %).

Yesterday, Swatch Group announced deals down 3.7% at steady trade rates for the main portion of 2019. Today, Richemont delivered a business articulation about the quarter finished June 30th , revealing a 9% development at consistent swapping scale more than the time frame (+3% including on the web distributors).

For more data, kindly visit www.fhs.swiss .