Their value fell by nearly a quarter (-22.9%), exerting a strong negative effect on the result worldwide. Growth on the American continent suffered a reverse from September onwards and ended the year on a negative note (-1.9%).Ģ015 was a very difficult year for Swiss watch exports to Hong Kong. Europe, accounting for one third of sales, registered a healthy increase of 6.1% compared to 2014. There was little to separate the two higher price ranges, with a downturn by value of 4.3% between 500 and 3,000 francs, and 3.1% above 3,000 francs.Īsia was the leading market for Swiss watchmakers and absorbed exactly half of exports by value. The 200-500 franc category was hardest hit, recording a downturn in value terms of 8.7%. Watches below 200 francs (export price) limited the downturn to -1.0%, and even recorded a slight increase in volume terms (+1.3%). Quartz timepieces recorded a more mixed result, with a decline of 9.9%.Īll main price segments saw their value contract in 2015, though results were not uniform. Mechanical watches generated 80% of export sales. In total, 460,000 fewer watches left Switzerland in 2015. With a total of 28.1 million timepieces exported, volumes reverted to their 2013 level. In volume terms, the downturn was more moderate at -1.6%. They registered a decline of 3.6% compared to 2014. Watches generated a value of 20.2 billion francs, accounting for nearly 95% of all exports. Consequently, watch exports are likely at best to achieve the same value this year as in 2015. This situation will continue to influence results for the Swiss watch industry in the first part of 2016, which moreover will suffer from a generally unfavourable base effect.

Overvaluation of the franc, the sudden readjustment affecting Hong Kong, the economic slowdown and political decisions in China, tensions in the Middle East, the low level of the rouble and terrorism were all factors which undermined the forecast of stability announced a year ago. The general context did few favours for the branch. The second quarter brought into focus most factors affecting the branch and fell well short of its 2014 level (-6.8%), while the first half-year as a whole remained slightly positive (+0.5%). The situation regarding watch exports deteriorated steadily during the year 2015, falling from +3.2% in the first quarter to -7.3% in the fourth quarter. Development of the Hong Kong market weighed heavily in the overall balance. As a consequence, the annual result was virtually back on a par with the level of 2012, following two consecutive years of consolidation. The total value of watch exports was 21.5 billion francs, a decline of 3.3% compared to 2014. It recorded its first downturn since 2009. The Swiss watch industry faced a more complex and difficult environment in 2015. Marked downturn in the second half-year and annual result in decline

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