Record Breaking 2005 for Swiss Watchmakers.

08 july 2005

Article by: By Jeanette Goldman Published by: Diamonds.Net on the 7th July 2005 (Rapaport…July 7, 2005) The Federation of the Swiss Watch Industry (FH) anticipates a new record for exports of Swiss Watches to be set in 2005. Total exports in 2004 exceeded $8.5 billion and 2005 already appears as if it will top $9.2 billion. “At the end of 2004, we announced an increase in exports for 2005 of between six and seven percent. The five first months of the current financial year, which have led to an increase of 13.7 percent, more than confirm out forecast….It is hoped that external factors-and here, I am thinking in particular about the rate of the dollar- will not interfere with this positive outlook,” said Jean-Daniel Pasche, president of Federation of Swiss Watch Industry, on June 30. Pasche noted that the Asian market is expanding, the United States is recording an increase, and business in Europe is returning. He added that “other regions of the world are showing a growing interest in our products,” including Eastern Europe, Russia, and Latin America. Pasche attributed Swiss watchmakers’ success to various policies including the launching of the association’s new image, the impact of the international tour of the exhibition, the creation of an FH internet site to combat counterfeits, and making economic and legal services available to its customers. Article by: By Jeanette Goldman Published by: Diamonds.Net on the 7th July 2005