EXPORTS – Up 14.7% for the First Quarter of 2011

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Exports recorded a rise of 11.1% in March 2011, achieving a total of 1.4 billion francs.

Press release

Swiss watch exports continued to grow in March despite an extremely unfavourable base effect.

After the increase of 37.9% posted in March 2010, exports recorded a rise of 11.1% in March 2011, achieving a total of 1.4 billion francs.

Thanks to good results over three months, the first quarter (3.9 billion francs) was up 14.7% compared to January-March 2010, exceeding the level recorded in 2008.

Steel watches saw their value increase at slightly above the average rate.

Gold timepieces also showed a steady rise, as did bimetallic watches.

The increase in volume terms outstripped the rise in the value of watches.

This was the case in particular for steel and bimetallic products, which stood out on account of their marked growth.

The category of other metals and other materials also recorded a positive result.

Watches costing less than 200 francs (export price) continued their steady upward trend in March.

Between 200 and 500 francs, timepieces consolidated their already impressive performance with increases of nearly 40%.

More expensive watches maintained a slightly lower profile.

The 500-3,000 francs category recorded a 9.0% upturn in the number of timepieces, while in value terms the increase was only 3.3%.

Above 3,000 francs, the increase by value and by volume was nearly 10%.

Watch exports to Hong Kong rose spectacularly in March.

In parallel, China recorded a particularly impressive rate of increase, despite a very unfavourable base effect.

Still showing an uneven development, the United States saw their value fall for the first time in more than a year.

France maintained its single-digit growth, while its neighbours Italy and Germany fared less well than in March 2010.

In sixth position, Singapore exceeded its previous year’s level.

Source: Federation of the Swiss Watch Industry FH

You can find more information on www.fhs.ch

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