Swiss watch exports registered a particularly high rate of growth in March, albeit against a low base of comparison. The sector exported the equivalent of 1.2 billion francs, an increase of 32.8% compared to March 2009. The recovery is therefore clearly confirmed, with the first quarter showing an upturn of 16.6% and a return to levels recorded in 2007.
The main materials made strong gains in March. Bimetallic watches saw their value more than double. Gold and steel timepieces were up sharply. The number of timepieces exported also rose, buoyed by the category of other materials, bimetallic and steel. In three months, volumes increased by 900,000 units (+19.8%) compared to 2009.
In March, a line drawn at 500 francs (export price) separated exports of wristwatches. Below this level, rates of variation were modest or even slightly negative. However these reductions played only a minor role in the general trend of the sector. Timepieces priced above 500 francs on the other hand made very steady progress with a rate of growth exceeding 40% in value terms.
Many markets surged ahead in March, particularly the top three. The pace of recovery in Hong Kong and China picked up markedly. The United States bounced back very strongly, benefiting in particular from a favourable base effect. The main European markets lost ground, even though Germany recorded a double-digit increase. Overall, the continent registered an increase of 7.4%. As in previous months, Asia was the sector’s main engine of growth.
