Watchmaking: strong growth in Swiss exports

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In Switzerland, watch exports continued their strong growth, with an increase of nearly 12% in the first half, to 13.3 billion Swiss francs.

 

The Swiss watchmaking industry was on a roll. In the first half of 2023, watch exports continued to increase by 11.8%, according to the watch federation (FH).

 

After already two record years, they increased by 10% in the United States, 25% in China and 29% in Hong Kong in the first half of the year.

 

The first half of the year thus ended with a particularly high result,” the federation said. A great start to the year, when we know that the sector has already reached historic levels of 22.3 billion francs in 2021 and 24.8 billion in 2022.

 

Horological expeditions around the world

 

The watch federation added that Swiss exports “showed no signs of weakness in Juneas they grew by 14% compared to June 2022. By comparison, growth in the United States rose by almost 9% in the first month of the summer, although growth slowed somewhat. Last April, they dropped in the market for the first time in over two years, before rebounding rapidly in May.

 

In China, exports increased by 9% compared to the same period in 2022, and surged by 46% in Hong Kong, mainly thanks to the return of tourists, after the lifting of health restrictions.

 

On the old continent, they jumped by 14% in France, 17% in Germany and 32% in Italy. The FH adds, however, that the United Kingdom, the leading watch market in Europe, has “kept back from the main continental markets”.

 

Last week, the Swiss group Swatch, which holds brands such as Omega, Tissot and Blancpain, reported a sharp rebound in its sales twice a year, thanks to the reopening of China. For its part, the Richemont group, which holds several prestigious brands such as Piaget, Jaeger-Lecoultre and Cartier, recorded a slight decrease in its sales in the Americas (-2% in its first fiscal quarter), at a time when investors are worried about a possible recession in the United States.

 

Read also >Watchmaking: Swiss exports up again in April

 

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In Switzerland, watch exports continued their strong growth, with an increase of nearly 12% in the first half, to 13.3 billion Swiss francs.

 

he Swiss watchmaking industry was on a roll. In the first half of 2023, watch exports continued to increase by 11.8%, according to the watch federation (FH).

 

After already two record years, they increased by 10% in the United States, 25% in China and 29% in Hong Kong in the first half of the year.

 

The first half of the year thus ended with a particularly high result,” the federation said. A great start to the year, when we know that the sector has already reached historic levels of 22.3 billion francs in 2021 and 24.8 billion in 2022.

 

Horological expeditions around the world

 

The watch federation added that Swiss exports “showed no signs of weakness in Juneas they grew by 14% compared to June 2022. By comparison, growth in the United States rose by almost 9% in the first month of the summer, although growth slowed somewhat. Last April, they dropped in the market for the first time in over two years, before rebounding rapidly in May.

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In Switzerland, watch exports continued their strong growth, with an increase of nearly 12% in the first half, to 13.3 billion Swiss francs.

 

he Swiss watchmaking industry was on a roll. In the first half of 2023, watch exports continued to increase by 11.8%, according to the watch federation (FH).

 

After already two record years, they increased by 10% in the United States, 25% in China and 29% in Hong Kong in the first half of the year.

 

The first half of the year thus ended with a particularly high result,” the federation said. A great start to the year, when we know that the sector has already reached historic levels of 22.3 billion francs in 2021 and 24.8 billion in 2022.

 

Horological expeditions around the world

 

The watch federation added that Swiss exports “showed no signs of weakness in Juneas they grew by 14% compared to June 2022. By comparison, growth in the United States rose by almost 9% in the first month of the summer, although growth slowed somewhat. Last April, they dropped in the market for the first time in over two years, before rebounding rapidly in May.

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Thanks to its extensive knowledge of these sectors, the Luxus + editorial team deciphers for its readers the main economic and technological stakes in fashion, watchmaking, jewelry, gastronomy, perfumes and cosmetics, hotels, and prestigious real estate.

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