The Swiss and world watchmaking industry in 2014
Growth slowed in 2014 even moving into the red at the end of the period under review, but the over all picture remained positive. The first half saw an increase in value of 3.1%, but this fell back to 0.8% in the second half of the year. The fourth quarter was even slightly negative. Although this decline is not particularly significant as such, the trend of recent months does point to a more challenging situation for Swiss watch industry exports.
Overall, Swiss exports were worth 22.2 billion francs, with the same growth as in 2013, i.e. +1.9%. The watch industry has experienced a second year of consolidation of its results at a high level. However, it is confronted with an increasing number of risks while the general environment has deteriorated. As in 2013, the main markets of Hong Kong and China penalized growth to which they had on the contrary made a strong contribution in previous years.