Swiss Watch Exports H1 2009
Luxury Watches
Distinct fall in volumes and value – Swiss watch exports are down 26.4% for H1 2009 vs. 2008 to a value of 6.1 billion Swiss Francs (A$6.9 billion).
Of Switzerland’s top 15 export markets, all but one showed a decline in sales for the first half of 2009 (South Korea grew a suprisingly strong 44.1%).
Total exports for the month of June were down 17.6% in volume and down 31.9% in value vs. June 2008. This has dragged the Half Year comparison figure down to a 26.4% decline vs. H1 2008.
Russia suffered the largest percentage loss of any market (down 61% at no. 20 on the list) but the loss in exports to the USA was the most significant in value terms when compared to the first six months of 2008, down 43.3% to SF673.3 million (A$761 million).
Sales have continued to decline throughout the year with year-on-year volume comparisons growing worse by the month. The Swiss Watch Federation confirmed this trend in their latest June report revealing that, “The value of Swiss watch exports [to the world] recorded a significantly greater fall in June than in previous months.” However, the trend appears to be reaching a plateu over these last few months.
After five years of strong growth, exports slowed and started to decline from the end of 2008. The level is now below 2006 volumes.
| Rank | Market | CHF Millions | % change vs. H1‘08 |
| 1 | Hong Kong | 1,022.3 | -22.2% |
| 2 | United states | 673.3 | -43.3% |
| 3 | France | 471.6 | -10.0% |
| 4 | Italy | 456.0 | -8.4% |
| 5 | Japan | 395.1 | -29.6% |
| 6 | Germany | 376.2 | -13.0% |
| 7 | Singapore | 266.8 | -30.3% |
| 8 | China | 253.3 | -36.4% |
| 9 | United Kingdom | 253.3 | -13.7% |
| 10 | United Arab Emirates | 224.5 | -34.0% |
| 11 | Spain | 142.2 | -38.8% |
| 12 | South Korea | 106.8 | +44.1% |
| 13 | Taiwan | 102.5 | -30.6% |
| 14 | Saudi Arabia | 85.0 | -28.9% |
| 15 | Thailand | 76.8 | -44.4% |
- Source: Federation of the Swiss Watch Industry FH
- Today’s exchange rate is A$1.13 for every CHF 1.00 (Swiss Franc)