Exports of watches made from precious metals drive growth

  • Swiss watch exports grew 3.1% in January
  • Exports of watches made from precious metals performed well
  • Steel and bimetallic watches saw a decline in exports
  • Exports to the U.S. rose 2.2%
  • Exports to China increased by 5%
  • Exports to Hong Kong dropped by 4.7%
  • Timepieces valued over CHF3,000 saw growth of 4.3%
  • Exports of watches priced under CHF200 grew 5.5%

Swiss watch exports in January continued to show a slowdown in growth compared to the previous month, according to data from the Federation of the Swiss Watch Industry. Total exports grew by 3.1% on a year-on-year basis, reaching 1.9 billion Swiss francs ($2.15 billion). This indicates a continued normalization of growth since June. The increase in exports was primarily driven by the performance of watches made from precious metals, while steel and bimetallic pieces experienced a decline. The main markets, including the U.S. and China, showed positive growth, with exports to the U.S. rising by 2.2% and exports to China increasing by 5%. However, exports to Hong Kong saw a decline of 4.7%. Timepieces valued over CHF3,000 saw growth of 4.3%, while watches priced under CHF200 experienced a growth of 5.5%, driven by the other materials category.

Factuality Level: 9
Factuality Justification: The article provides factual information about the growth of Swiss watch exports in January, including details about the performance of different types of watches and key markets. The information is based on data from the Federation of the Swiss Watch Industry and does not contain any obvious biases, misleading information, or inaccuracies.
Noise Level: 3
Noise Justification: The article provides relevant information about the Swiss watch industry’s export growth in January, including details on the performance of different types of watches and key markets. The information is concise, on-topic, and supported by data from the Federation of the Swiss Watch Industry.
Financial Relevance: Yes
Financial Markets Impacted: The article provides information on the growth of Swiss watch exports, which can impact the Swiss watch industry companies and potentially the luxury goods market.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article discusses the growth in Swiss watch exports and market performance, without mentioning any extreme events or significant disruptions.
Private Companies: Federation of the Swiss Watch Industry
Key People: Andrea Figueras (Author)

Reported publicly: www.marketwatch.com