For the first time in over two years, Swiss watch exports experienced a notable decline in February. This trend triggered an immediate response in the Swiss financial market, while experts emphasize that this situation could pose challenges for the Swiss watchmaking industry in the months ahead.
For once, Swiss watch exports have recorded a significant decrease in February, marking the first decline in over two years.
According to data from the Federation of the Swiss Watch Industry (FH) published this Tuesday, watch exports declined by 3.8%, totaling 2.15 billion Swiss francs (2.23 billion euros). This trend is partly explained by an unfavorable base effect and a decline in the Chinese market.
In terms of volume, 1.2 million Swiss timepieces were exported, marking a 5.2% decline.
To recall, in 2023, Swiss watch exports abroad had seen an increase of 7.6%, reaching 26.7 billion francs (27.7 billion euros).
Decrease in market segments
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Featured photo : © Cartier
