After several challenging months, the Swiss watch industry finally returned to a steady growth trajectory in June, thanks in large part to the United States.
In June, exports rose by 11.2% to nearly 2.4 billion Swiss francs, according to the Federation of the Swiss Watch Industry. This performance has reduced the cumulative decline since the start of the year to 0.7%, while Swiss watch exports totaled 12.8 billion Swiss francs in the first half of the year.
Growth Driven by All Major Categories
The increase observed in June spanned all major watch categories, starting with wristwatches—which account for the bulk of the sector’s activity—and which rose by 11.7% to 2.284 billion Swiss francs.
Timepieces made of precious metals, meanwhile, recorded a 2.9% increase, reaching 846.9 million Swiss francs, while steel watches rose by 5%, reaching 735.9 million Swiss francs.
However, the strongest performance came from bimetallic models, whose exports surged by 42.1% to 453.3 million Swiss francs. Watches made from other metals also saw strong growth of 22.9%, reaching 150.3 million Swiss francs.
The mid-range and high-end segments are driving growth
Watches with an export price between 200 and 500 Swiss francs recorded the strongest growth in volume this month, with a 54.1% increase, while their value rose by 51.3%.
The segment of timepieces with an export price exceeding 3,000 Swiss francs also continued to grow, with a 14.2% increase in volume and a 9.9% rise in export value.
Conversely, watches with an export price between 500 and 3,000 Swiss francs were the only category to decline, with a 4.7% drop in volume, despite a 10.6% increase in value.
Confirmed Leadership for the United States
The United States remains the leading market for Swiss watches, with 349 million Swiss francs in exports in June, an increase of 12.7%. It now accounts for 14.6% of the sector’s exports, up from 14.3% last month.
France emerged as the second-largest market for the month with 249.6 million Swiss francs, a spectacular increase of 103.5%. The FH notes, however, that this trend is not very representative of actual demand in the French market, suggesting that it stems from one-off factors rather than sustained consumption.
The United Kingdom grew by 12.2% to 175 million Swiss francs, ahead of Japan (169.4 million, +8.8%), Hong Kong (157.9 million, +6.9%), and Singapore (154.3 million, +6.7%). These six major markets alone accounted for 1.255 billion Swiss francs, or 52.5% of Swiss watch exports in June, up 21.1% year-over-year.
Conversely, several major markets continue to weigh on the sector’s performance: exports to China, a market facing persistent difficulties, fell by 16.5%; those to Germany by 10.6%; and those to Italy by 21.4%.
Read also > Swiss watch exports regain stability in may
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