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In February 2023, watch exports increased by 12.2 percent year on year to CHF 2.24 billion, according to the Federal Office of Customs and Border Security (BAZG) and the Swiss Watch Industry Association (FH) on Tuesday.
This continues its recent positive trend after the 8.6 percent increase recorded in January. And in 2022, more watches were sold abroad than ever before.
The association announced that non-metal watches are especially popular in February. A “significant” increase of over 60 percent was noted in the “Other Ingredients” category. The Watch Association announced that the number of pieces in this category (+71.6%) grew five times faster than the average.
Parallel to this strong growth in “other materials”, watches were particularly popular in the sub-200 franc price range. A total of 1.3 million watches were sold in February.
On a country-by-country basis, the US was seen to be strong: In February, the watch industry there recorded the 25th month of double-digit growth with 15.5 percent growth.
Watch exports to China (+8.2%) rebounded after four months of decline. The Watch Association suspects this likely signals a rebound in the Chinese market. This assumption is supported by growth in Hong Kong (+22%).
(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.
