Swiss Watch Exports Fall Sharply in Q1 2009

As we've reported in numerous posts, the Swiss watch industry is being battered by the worldwide economic recession. Year-over-year decline to some of Switzerland's most important markets was dramatic in the first quarter of 2009, according to the Federation of the Swiss Watch Industry. The United States, the number two market for Swiss watches, was off 41.8 percent. Other important markets that experienced very steep drop-off in demand include Russia (-63.2 %), Singapore (-39.4%), UAE (-38.5%), and China (-34.7%).

Categories: Swiss Watch News.

Comments (2)

  1. Andrew Sorkinsky

    Looks like Russia’s luxury market has really gone in the tank. These are tough times everywhere. The problem is a Timex or Casio can tell time-you don;t need a fancy watch to do a basic function. Sure, they are nice to look – eye candy – but not when you are struggling to make your mortgage. I don’t think any of this should surprise anyone.

  2. That is tough to hear, but I think one of Swiss watches positives is turning into a negative in these economic times. The durability of these time pieces, I think, is hurting Swiss watch companies current profits. People don’t have the disposable income they once had, and there current piece is still in excellent condition, so they feel no need to invest in an addition to their collection.

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