2014 Market Review Emerging ‘golden Country’

In terms of international trade volume, Swiss watch exports are far less than mainland China and Hong Kong. In 2013, the global production of watches and clocks was estimated at about 1.2 billion pieces, of which 635 million and 332 million were exported from mainland China and Hong Kong, and only 28 million were exported from Switzerland. However, in terms of export value, the situation is exactly the opposite. The total value of the 28 million pieces of watches and clocks exported from Switzerland is as high as 23.6 billion U.S. dollars, which is more than double the total value of exports of watches and clocks in Hong Kong and Mainland China (10 billion and 5.6 billion U.S. dollars respectively). In other words, the Swiss watch industry dominates high value-added watch products such as mechanical watches. This can be seen from the price of watches and clocks: According to the figures in 2013, the average price of watches and clocks exported from Switzerland reached US $ 791, and the exports from Hong Kong and China were only US $ 19 and US $ 3, respectively.

   Since 2000, the Asia-Pacific region has become a major exporter of Swiss watch products, which plays an important role in the development of the Swiss watch industry. While the economic development of the Asia-Pacific region has created wealth, it has also spawned a group of people with high purchasing power. Judging from the number of Swiss watch exports, we can know a little about the opportunities it brings to the fine watchmaking industry: In 2000, the total value of Swiss watch exports to mainland China was only 50 million US dollars. The top 20 export markets do not include mainland China. By 2005, that number had rapidly risen to $ 394 million, and in 2010 it had further climbed to $ 1.23 billion. Last year, the relevant figures reached US $ 1.62 billion, second only to Hong Kong and the United States, and higher than Germany and Italy.

   The same trend is also reflected in the entire Asia-Pacific region-from 2003 to 2013, Swiss watch exports to the Asia-Pacific market as a destination increased by 254%, totaling US $ 8.82 billion. Over the same period, the overall growth of Swiss watch exports was 122%. Strong demand in the Asia-Pacific region has restructured the international watch market: Asia (excluding Japan) accounted for Switzerland’s total watch exports from 24% a decade ago, rising to 38% today, ranking first, surpassing Europe (30%) And North America (11%).

Exports of watches and clocks by region (2013)

Country / City

Quantity (million)

Change (%)

Mainland China

634.4

-4.2%

Hong Kong

331.5

-6.5%

Switzerland

28.1

-3.6%

Germany

18.8

+ 13.8%

United States

9.2

+ 7.3%

France

6.9

+ 7.9%

Source: Swiss Watch Industry Federation

Export Value of Watches and Clocks by Region (2013)

Country / City

Billion (USD)

Change (%)

Switzerland

236

+1.9

Hong Kong

100

+ 3.7%

Mainland China

56

+ 7.9%

France

24

+ 7.2%

Germany

24

+ 10.8%

Source: Swiss Watch Industry Federation

Swiss watch exports by region of destination (2013)

Source: Swiss Watch Industry Federation

Swiss Watch Export Value (by Destination) (2013)

Source: Swiss Watch Industry Federation

Asia Pacific: Cambodia, China, Hong Kong, Indonesia, North Korea (North Korea), South Korea (South Korea), Laos, Macau, Malaysia, Myanmar, Philippines, Singapore, Taiwan, Thailand, Vietnam, Australia