Swiss watch exports fell back in May 2024, following an increase in April. This was mainly due to negative performances in several key markets. Despite this decline, year-to-date exports remain substantial.
Swiss watch exports recorded a decline in May 2024, reversing the positive trend observed in April.
According to statistics published by the Fédération horlogère suisse (FH), Swiss watch exports fell by 2.2% compared to May 2023, reaching a value of 2.3 billion Swiss francs (2.39 billion euros). This decline is explained by significant decreases in its largest markets.
Since the beginning of the year, cumulative watch exports have exceeded 10 billion Swiss francs (10.4 billion euros), albeit down 2.5% on the first five months of 2023.
After the initial shock of the Covid-19 pandemic, Swiss watchmaking had enjoyed remarkable growth, reaching an all-time high of 26.7 billion Swiss francs (27.8 billion euros) in 2023. However, the high basis of comparison makes it difficult to maintain this exceptional level of performance.
Contrasting markets
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Read also>SWISS WATCH EXPORTS BACK ON TRACK IN APRIL
Featured photo : © Richard Mille
