In September, watches worth 2.2 billion francs were exported abroad. According to the figures of the Swiss Watch Industry Association (FH) and the Federal Office of Customs and Border Security (BAZG), the increase in exports was 19.1 percent compared to the same month of the previous year.
The Watch Association writes that watch exports thus reached one of the highest levels in their history. In the first nine months of the year, watch exports increased by 12.6 percent to CHF 18.1 billion.
In terms of export volume, most watches were shipped back to the US. The region has been experiencing strong growth for months. In September, it was 33.2 percent.
But the Chinese market also seems to be recovering from the strict corona measures that put the economy under pressure, especially in the spring. Exports to the “Middle Kingdom” increased by 15.0 percent.
But in Japan and Singapore, sales increased significantly, with growth of 34.3 percent and 38.9 percent, respectively. Significantly more watches were also exported to the United Arab Emirates, up 36.1 percent.
The downward trend continues in what was once the most important sales market in Hong Kong. Sales fell 2.8 percent again. With a share of 6.8 percent, Hong Kong continues to be one of Switzerland’s most important export markets.
In Europe, most of the watches were sold to Germany, and exports increased by almost a quarter. However, sales to Italy and France also increase compared to the previous year.
By price category, volume increased in almost all categories. Sales fell only for fairly cheap watches, priced between 200 and 500 francs.
The most expensive watch exports increased. A fifth watch, priced from 500 to 3000 francs, and a quarter of a watch worth more than 3000 were shipped.
(SDA)