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Year 2014: moderate growth for the Swiss watch industry

Year 2014: moderate growth for the Swiss watch industry. In 2014 exports of the Swiss watch industry recorded a total value of 22.2 billion francs, corresponding to an increase of 1.9% compared to 2013. Exports by the Swiss watch industry consisted essentially of wristwatches.
In 2014 exports of the Swiss watch industry recorded a total value of 22.2 billion francs, corresponding to an increase of 1.9% compared to 2013.


Watch exports remained positive over the year, despite a gradual loss of momentum. While the first half-year saw an increase in value of 3.1%, growth was only 0.8% in the second half with a negative trend observed in November and December, linked to the autumn events in Hong Kong and the decline of the Chinese market.

Exports by the Swiss watch industry consisted essentially of wristwatches. With a value of 21.0 billion francs, these accounted for nearly 95% of total exports. 28.6 million watches left Switzerland in 2014, almost half a million more than in 2013.

Growth was buoyed by mechanical watches, which recorded upturns both in value and volume terms (+3.4% and +8.8% respectively). They accounted for just over a quarter of timepieces exported and generated nearly 80% of sales. Quartz watches stagnated in volume terms (-0.9%) and lost several points in terms of value (-4.1%).

Regarding markets, the American continent (+4.5%) recorded above-average growth, thanks mainly to the United States (+6.2%). Asia recorded an upturn of 2.8%, albeit with disparities between markets. Hong Kong attained the same level as in 2013. The leading market for Swiss watch exports staged a recovery in the first half-year, but showed little movement in the second half, before hitting a wall at the end of the period. On a broader scale, China showed the same profile however the final result was negative (-3.1%). Despite a slowdown which took effect in September, Japan (+15.2%) ended the year with an excellent result. Middle Eastern markets also registered strong increases, however the best performer was South Korea (+18.5%) which continued to surge ahead.

Europe ended the period with a decline of 1.2%. Not all markets followed the same trend. Italy remained stable (+0.5%), whereas Germany (-6.4%) and France (-6.0%) recorded downturns of similar magnitude. The United Kingdom (+2.3%) and Spain (+9.8%) recorded above par results, while Russia (-1.2%) ended the year slightly below its 2013 level.

The table below shows the trend in the January-December 2014 period in the fifteen main markets (total value in million Swiss Francs and % variation by comparison with 2013):

1
Hong Kong4,122.90.0%
2
USA2,377.7+6.2%
3
China1,401.5-3.1%
4
Japan1,330.6+15.2%
5
Italy1,235.0+0.5%
6
Germany1,223.7-6.4%
7
Singapore1,119.8-1.4%
8
France1,119.3-6.0%
9
UAE1,017.6+8.9%
10
United Kingdom973.8+2.3%
11
South Korea636.5+18.5%
12
Spain466.5+9.8%
13
Taiwan443.9+3.0%
14
Saudi Arabia391.4+11.1%
15
Russia276.4-1.2%

In a context which is clearly less robust, especially after the recent move by the Swiss central bank to remove the 1.20 peg in the EUR/CHF exchange rate, forecasts have been revised. In 2015, watch exports are expected to remain stable in relation to 2014. Exchange rate fluctuations in particular will continue to be monitored closely and the results of the first months of 2015 will be decisive in assessing the general situation.

COMMENTS

Name

A. Lange & Sohne,137,Accutron,1,AkriviA,10,Alain Silberstein,3,alarm,16,Alpina,14,Andersen Geneve,2,Andersmann,2,Andreas Strehler,5,Angelus,5,annual calendar,43,Anonimo,15,Anthony de Haas,1,Antiquorum,4,Antoine Martin,2,Antoine Preziuso,1,Apple,2,Apple Watch,2,Aquadive,2,Aquastar,1,Armin Strom,76,Arnold and Son,26,Artime,1,Astarwatch,1,Atelier de Chronometrie,1,Ateliers deMonaco,2,Atmos,1,Auctions,91,Audemars Piguet,92,Autodromo,1,automaton,2,BA111OD,1,Ball Watch,1,Bamford,2,Baselword 2022,1,Baselworld,8,BaselWorld 2013,50,BaselWorld 2014,53,Baselworld 2015,69,Baselworld 2016,27,Baselworld 2017,64,Baselworld 2018,75,Baselworld 2019,41,Baselworld 2020,2,Baume,4,Baume & Mercier,11,Baume et Mercier,65,Bell & Ross,39,Bernhard Lederer,4,Bernhard Zwinz,1,bespoke,1,Blancpain,92,blue dial,3,Bonhams,2,Bovet,12,Brands histories,1,Breguet,122,Breitling,71,Bremont,1,Bremont Watch Company,4,Breva,2,bronze,28,Bücherei,1,Bucherer,1,Bulgari,114,Bulova,2,Burberry,1,C3H5N3O9,1,carbon,3,carillon,3,Carl F. Bucherer,4,Carl Suchy,1,Carrera,17,Cartier,46,ceramic,20,Certina,11,Chanel,4,Chaumet,3,chiming hour,13,Chopard,42,Christiaan van der Klaauw,1,Christie's,9,Christophe Claret,5,Christopher Ward,14,chronograph,717,chronometer,38,Chronoswiss,6,Citizen,3,co-axial,1,column-wheel,7,complete calendar,27,complications,88,concept watch,5,Concord,1,constant-force,39,Corum,18,Credor,1,CSEM,1,Cuervo y Sobrinos,1,Cyrus,32,Czapek,8,Dan Niederer,1,Davosa,1,Daytona,7,De Bethune,28,de Grisogono,3,dead seconds,21,Delma,1,detent escapement,4,DeWitt,9,digital display,1,dive watches,56,diving,8,diving watches,377,double regulator,3,Doxa,34,drei,1,dress watches,504,dual time,101,Ebel,2,Eberhard,35,Edouard Koehn,5,Edox,6,El Primero,41,Emile Chouriet,1,Emmanuel Bouchet,1,Emmanuel Breguet,1,enamel dial,12,enamelling,15,Equation of time,9,ETA,1,Eterna,18,exhibitions,1,F.P.Journe,38,Faberge,2,factory tours,3,Favre-Leuba,1,feature article,82,features,118,Felipe Pikullik,2,Ferdinand Berthoud,7,flyback,55,Fondation de la Haute Horlogerie,1,Formex,1,Fortis,9,Franc Vila Founder,1,Franck Muller,7,Frederic Jouvenot,1,Frederique Constant,15,Furlan Marri,1,FVF,1,Gallet,1,Garrick,1,Geneva Watchmaking Grand Prix,8,Georg Jensen,1,George Daniels,4,Gerald Charles,2,Gerald Genta,12,Girard-Perregaux,47,Glashuette,19,Glashuette Original,88,Glashütte,33,Glashütte Original,121,Glycine,4,GMT,126,GoS,1,GoS Watches,1,GPHG,20,GPHG 2020,3,GPHG 2021,3,GPHG 2022,3,GPHG 2023,3,GPHG2019,1,Graham,6,Grand Feu,5,Grand Prix d’Horlogerie de Geneve,16,Grand Seiko,33,Grande Complication,28,Grande Sonnerie,8,Greubel Forsey,38,greubelforsey,1,Gronefeld,10,Grönefeld,8,Grossmann,3,guilloché,8,H. Moser and Cie,49,H20 Watch,1,Habring,10,Habring2,11,Hajime Asaoka,2,Hallmark of Geneva,2,Hamilton,37,hands-on,118,Hanhart,15,Harry Winston,11,Hautlence,6,Hermes,26,Heuer,2,high jewellery,2,high-frequency,3,Hublot,59,Hybris Artistica,1,Hydro Mechanical Horologists,7,HYT Watches,16,Icon,1,In pictures,17,independent watchmaker,35,industry news,227,interview,8,Interviews,8,IWC,166,Jacques Bianchi,1,Jaeger-LeCoultre,123,Jaquet Droz,58,Jean-Francois Mojon,1,Jean-Marc Pontroué,1,JeanRichard,3,jumping hours,36,Junghans,11,Kaj Korpela,1,Kari Voutilainen,10,Kenissi,1,Kollokium,1,Korpela,1,Krayon,4,Kudoke,5,Kurono,2,L.Leroy,1,L'Epee 1839,1,Labails,1,Ladies watches,190,Lang & Heyne,4,Lang 1943,1,Lange,48,large date,3,Laurent Ferrier,25,Laureus,2,Le Garde Temps,1,Lederer Watches,4,Leica,3,Lemania,1,Leroy,4,Linde Werdelin,2,Longines,93,Louis Erard,26,Louis Moinet,7,Louis Vuitton,1,luxury steel watch,24,LVMH,10,LVMH 2020,6,M.A.D.Edition,3,M.A.D.Editions,3,Maîtres du Temps,1,Manufacture Contemporaine du Temps,3,Manufacture Royale,3,Marc Lang,1,marine chronometer,2,Marqueterie,1,Maurice de Mauriac,2,Maurice Lacroix,26,MB&F,64,MCT,1,MeisterSinger,90,meteorite,3,metiers d'art,2,Mickey Mouse,2,Mido,59,military watches,14,Minerva,3,Ming,1,Minute Repeater,62,monopusher chronograph,4,Montblanc,57,moon phases,121,Moritz Grossmann,31,Moser,44,Muhle,6,Mühle-Glashütte,5,mystery watches,4,Nautilus,12,New Britain Corp,1,new watches,3587,Nivada,2,Nomos,76,Norqain,31,Ochs und Junior,6,Officine Panerai,103,Omega,190,Only Watch,15,Only Watch 2015,4,Only Watch 2017,2,Only Watch 2019,3,Only Watch 2021,4,Only Watch 2023,10,Oris,42,paillonne,1,Panerai,106,Parmigiani,14,Parmigiani Fleurier,33,Pascal Coyon,1,Patek,56,Patek Philippe,133,Pedrozo & Piriz,1,perpetual calendar,146,Perrelet,11,Petermann Bedat,3,Phenomen,1,Philippe Dufour,1,Phillips,10,Piaget,34,Pierre DeRoche,2,pilot watch,111,Pininfarina,1,Pisa,13,Pisa 1940,1,Pisa Circle,12,Pita,1,planetarium,2,platinum,7,pocket watch,3,pocket watches,2,Poehlmann-Bresan,2,Poincon de Geneve,2,Porsche Design,17,Pre-SIHH 2016: Cartier - Clé de Cartier Automatic Skeleton,1,pulsometer,5,Purnell,1,quartz,9,Rado,19,Ralf Tech,3,Ralph Lauren,2,rattrapante,23,Raul Pages,2,Raymond Weil,4,rectangular watches,16,reddot award,1,regatta,1,regulator,25,remontoire,5,Remy Cools,1,Renaud Tixier,1,Reservoir,2,resonance,21,Ressence,12,retrograde,10,Revelation,1,Reverso,26,review,119,RGM,1,RGM Watch Co.,1,Richard Mille,110,Richemont,4,Richmond,1,Roger Dubuis,11,Roger Smith,1,Roger W. Smith,1,Rolex,68,Romain Gauthier,12,Romain Jerome,1,Royal Oak,39,Rudis Sylva,1,sapphire,4,Schwarz Etienne,1,Seamaster,9,Seiko,41,SevenFriday,24,SIHH,3,SIHH 2012,4,SIHH 2013,25,SIHH 2014,36,SIHH 2015,43,SIHH 2016,44,SIHH 2017,41,SIHH 2018,43,SIHH 2019,53,Simon Brette,2,Singer,6,Singer Reimagined,10,single hand,27,single-hand watches,32,Sinn,16,skeleton,35,smartwatch,9,solar energy,1,Sotheby's,8,Speake Marin,6,Speake-Marin,6,Speedmaster,34,split seconds,22,sport,1,sport watches,930,sportwatches,1,Spring Drive,2,square watches,3,squelette,57,steampunk,1,Steinhart,1,Strehler,1,striking time,16,SuisseMecanica,1,sunrise,2,sunset,2,Swatch,8,Swatch Group,23,Sylvain Pinaud,2,table clocks,4,Tag Heuer,172,tantalum,1,technical insight,3,terra Cielo Mare,1,Theo Auffret,1,Tiffany,17,Tissot,8,titanium,8,top news,395,Torsti Laine,1,tourbillon,361,Trilobe,3,Tudor,35,Tulloch,1,Tutima,3,ultra thin,34,Ulysse Nardin,39,Unimatic,1,Union Glashutte,14,Universal Genève,1,Urban Jurgensen,29,Urwerk,22,Vacheron Constantin,80,Van Cleef & Arpels,7,Vauchier Fleurier,1,Vianney Halter,5,video,1,vintage watches,3,Vulcain,11,wandering hours,1,watches,1,Watches & Wonders,41,Watches & Wonders 2020,19,Watches & Wonders 2021,28,Watches & Wonders 2022,35,Watches & Wonders 2023,38,Watches & Wonders 2024,2,Watches&Wonders,5,WatchesandWonders2022,35,WatchesandWonders2023,39,WatchesandWonders2024,3,Wilhelm Schmid,1,Winnerl,1,worldtime,56,YEMA,4,Zannetti,1,Zeitwerk,2,Zeitwinkel,1,Zenith,110,Zodiac,9,
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Time and Watches | The watch blog: Year 2014: moderate growth for the Swiss watch industry
Year 2014: moderate growth for the Swiss watch industry
Year 2014: moderate growth for the Swiss watch industry. In 2014 exports of the Swiss watch industry recorded a total value of 22.2 billion francs, corresponding to an increase of 1.9% compared to 2013. Exports by the Swiss watch industry consisted essentially of wristwatches.
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