Watchmaking: Swiss exports break all records
With strong demand from the United States, Swiss watch exports reached a historic level.
In November 2022, Swiss watch shipments abroad recorded the highest result in their history, exceeding 2.4 billion Swiss francs (2.53 billion euros). In year-on-year comparison, this increase amounts to 10.9%.
The performance for the 11 months of 2022 already exceeds that for the whole of 2021, when a total of 22.3 billion Swiss francs (22.6 billion euros) was recorded. Growth has indeed remained at a high level, in line with the average of the previous ten months, the Federation of the Swiss Watch Industry (FH) points out. Since the beginning of the year, the industry has exported the equivalent of 22.8 billion Swiss francs (23.17 billion euros), an increase of 11.9% compared to 2021 and 50% more than in 2020.
This record is due in part to strong demand from the United States, which is consolidating its position as the leading market for Swiss watches. Demand is up nearly 33%, with volumes reaching 400 million Swiss francs (406 million euros).
On the other hand, China (-11.5% to 212 million Swiss francs) saw a decline for the second consecutive month, after the recovery posted during the summer. Hong Kong (-8.9%) continues to fall, while other Asian markets have made significant progress. This is particularly true of Japan (+20%) and Singapore (+29%).
Europe is posting average growth of 8% in November, driven by the United Kingdom (+17.6%), Germany (+14.5%) and Italy (+20%).
The strongest contribution to this record came from precious metal watches (+16%), which generated more than half the growth. The total number of pieces decreased slightly, pulled down by steel watches (-16%).
Read also > Swiss watchmaking : the sector should recruit nearly 4 000 professionals
Featured photo : © Baume et Mercier
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Passionnée depuis son plus jeune âge par l’art et la mode, Hélène s’oriente vers une école de stylisme, l’Atelier Chardon-Savard à Paris, avec une option Communication. Afin d’ajouter des cordes à son arc, elle décide de compléter sa formation par un MBA en Management du Luxe et Marketing Expérientiel à l’Institut Supérieur de Gestion à Paris dont elle sort diplômée en 2020. Elle a notamment écrit des articles lifestyle et beauté pour le magazine Do it in Paris et se spécialise en rédaction d’articles concernant le luxe, l’art et la mode au sein du magazine Luxus Plus.********** [EN] Passionate about art and fashion from a young age, Hélène went to a fashion design school, Atelier Chardon-Savard in Paris, with a Communication option. In order to add more strings to her bow, she decided to complete her education with an MBA in Luxury Management and Experiential Marketing at the Institut Supérieur de Gestion in Paris from which she graduated in 2020. She has written lifestyle and beauty articles for Do it in Paris magazine and specializes in writing articles about luxury, art and fashion for Luxus Plus magazine.