World exports of Swiss watches rose by a further 7.6% in 2023, on an already high base of 2022, announced the Swiss Watchmaking Federation. It is more cautious for the 2024 forecast…
The Swiss watchmaking industry finished 2023 on a high note, having set a record for the third year running. Last year, however, the industry was severely handicapped by a stronger-than-ever Swiss currency, a sluggish Chinese market and rising raw material prices.
These 2023 statistics have just been revealed by the Swiss Watch Federation (FH). However, the FH is more cautious about the outlook for 2024, which is weighed down by inflation.
For the full year 2023, Swiss watch exports rose by 7.6% to 26.7 billion Swiss francs (28.6 billion euros), compared to the “already high” level of 2022.
Demand driven by luxury and entry-level segments
In terms of volume, 16.9 million pieces were exported, 1.1 million more than in 2022, driven “mainly by wristwatches under 200 Swiss francs (around 232 dollars, ed. note) (export price)”.
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Featured Photo: © Rolex
