Previous post Next post

Mixed Outlook for Swiss watchmakers

Swiss Watch Industry

The Federation of the Swiss Watch Industry is the industry’s leading trade association. It has more than 500 members representing more than 90% of all Swiss watch manufacturers. (Keystone)

The Swiss watchmaking industry expects a continuing rise in exports next year but is concerned that the United States’ protectionist trade policy could have a negative impact on the sector.

Jean-Daniel Pasche, president of the Federation of the Swiss Watch Industry, said the sector would record in 2018 the third consecutive year with growth, and the value of exports could exceed CHF21 billion ($21.2 billion).

That would be an increase of about 7% on the previous year but short of the record CHF22.2 billion in 2014.

Pasche said growth was likely continue on the Asian markets – Hong Kong and China – as well as in the United States. But sales in Europe are expected to stagnate in 2019.

Looking to other regions, Pasche said there was potential in both Brazil and India but noted that agreements on free trade between Switzerland and the two countries were still blocked.

He also voiced concern about uncertainty surrounding Brazil’s incoming president, Jair Bolsonaro, who is said to be an opponent of multilateralism.

In a similar vein, Pasche pointed out the ongoing trade tensions between the US and China.

The strong Swiss currency is also an important factor to take into account, he said.

Full story here
About Swissinfo
Swissinfo
SWI swissinfo.ch – the international service of the Swiss Broadcasting Corporation (SBC). Since 1999, swissinfo.ch has fulfilled the federal government’s mandate to distribute information about Switzerland internationally, supplementing the online offerings of the radio and television stations of the SBC. Today, the international service is directed above all at an international audience interested in Switzerland, as well as at Swiss citizens living abroad.
Previous post See more for 3) Swiss Markets and News Next post
Tags: ,

Permanent link to this article: https://snbchf.com/2018/12/outlook-swiss-watchmakers/

Leave a Reply

Your email address will not be published.

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

This site uses Akismet to reduce spam. Learn how your comment data is processed.