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Swiss Watch Exports Rise 5.6% in January

High-end timepieces played an important role in the overall result.

PARIS — Swiss watch exports rose 5.6 percent in January, driven in part by high-end timepieces, the Federation of the Swiss Watch Industry reported.

 

Foreign sales of Swiss watches totaled 1.6 billion Swiss francs, or $1.77 billion at average exchange rates for the period, according to the federation.

 

“The year 2014 began with an excellent opening result,” it said, noting that January 2013 “itself stood at a remarkable level.” That month, Swiss watch exports had advanced 10.8 percent versus January 2012.

 

Sales of gold watches dipped 0.1 percent in value terms in January 2014, while the category of other materials rose 13.5 percent in value terms.

 

Other segments offset the slight decline in sales of wristwatches costing less than 200 francs, or $222. Gains from timepieces between 200 francs and 3,000 francs, or $3,323, were more substantial, while watches costing more than 3,000 francs advanced 4 percent. The federation said that category “played an important part in the overall result.”

 

Exports to the United Arab Emirates rose sharply, by 31.4 percent, as the United States posted a 22.8 percent gain and Japan, a 17 percent rise. In contrast, exports to Hong Kong and Germany declined 7.7 percent and 2.1 percent, respectively.