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As the Federal Office of Customs and Border Security (BAZG) and the Swiss Watch Industry Association (FH) announced on Thursday, watch exports reached CHF 2.45 billion in June 2023, up 14 percent from the same month last year.
The recent positive trend thus continued: an increase of 14.4 percent was recorded in May, and an increase of 6.8 percent was recorded in April. Cumulatively (January-June), the increase is 11.8 percent compared to the previous year.
According to the association, watches made especially from precious metals contributed to the growth in the reporting month, followed by bimetallic watches. The strong increase in volume (+10.6%) was driven almost entirely by the “Other materials” category (+51%), which grew by 150,000 units in a month.
On a country-by-country basis, the USA, the largest export market, recorded a slight slowdown in growth with an increase of 8.8 percent. China (+9.0%) registered a comparable increase, while exports to Hong Kong (+46%) increased significantly.
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
