Overall, 2008 was a very good year for Swiss watchmaking. Showing high rates of monthly growth, the industry exported the equivalent of 17.0 billion francs. This record level represents an annual increase of 6.7% compared to the result obtained in 2007, a progression in value terms of more than 1 billion francs. 2008 and the four preceding years of very high growth placed the industry at a particularly high level.

The positive assessment of 2008 must however be qualified by the trend in the latter months of the year. Initially the economic environment, unsettled by financial problems, exerted scant influence on watch exports, although monthly rates declined steadily from April onwards. From September, the sudden and very marked downturn in the economic situation impacted significantly on watch industry performance. As a result, the fourth quarter registered a decline of 7.8%. November recorded the steepest fall (-15.4%), prior to a recovery in December (-7.6%).

Continuing this trend, the year 2009 will begin in the red. The lack of general visibility makes precise forecasts difficult howeve.

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Source: Federationof the Swiss Watch Industry FH
www.fhs.ch.
Contact:[email protected]

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