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The 2 billion Swiss franc mark<\/strong> was passed “for the first time this early in the year<\/em>“, the Swiss watchmaking federation<\/strong> said. In January, exports rose by 6.8% and in February by almost a quarter. Over the first three months, the increase was 14.3% to 5.8 billion Swiss francs.<\/strong><\/p>\n <\/p>\n Exports to Russia<\/strong> came to a halt in March, falling below the 1 million Swiss francs mark, the watchmaking federation said.<\/p>\n <\/p>\n While Europe<\/strong> was suffering from the absence of tourists in 2021, growth has resumed with an increase in exports<\/strong> of 54.9% to the United Kingdom during the past month, 43% to Germany, 21.1% to France and 17.8% to Italy.<\/p>\n <\/p>\n On the other hand, China<\/strong>, which has been a major contributor to the growth of Swiss exports for several years, fell back in March with a 27.6% drop due to restrictions linked to Covid-19. Nevertheless, the country remains the second most important market for the industry. Following the same trend, Hong Kong, in third place, posted a decline of 9.3%.<\/p>\n <\/p>\n The watchmaking federation stressed, however, that these exports remain at a “very high level (…) after several years of sustained and uninterrupted growth<\/em>“.<\/p>\n <\/p>\n In terms of price categories, only watches with an export price of 3,000 Swiss francs or more saw a strong improvement of +15.8% in sales<\/strong> and an increase of 13.9% in volume. In contrast, the 200-500 Swiss francs category contracted significantly.<\/p>\n <\/p>\n The export market has a bright future ahead of it, especially thanks to Europe<\/strong>, but investors are watching the effects of the confinements in China<\/strong>, as this is a regular and very important market for Switzerland.<\/p>\n <\/p>\n <\/p>\n Read also>\u00a0SWITZERLAND: WATCH EXPORTS SOAR IN JANUARY THANKS TO EUROPE<\/a><\/p>\n <\/p>\n Featured photo : \u00a9 H.Moser[\/vc_column_text][\/vc_column][\/vc_row][vc_row njt-role=”not-logged-in”][vc_column][vc_column_text]<\/p>\n <\/p>\n <\/p>\n The 2 billion Swiss franc mark<\/strong> was passed “for the first time this early in the year<\/em>“, the Swiss watchmaking federation<\/strong> said. In January, exports rose by 6.8% and in February by almost a quarter. Over the first three months, the increase was 14.3% to 5.8 billion Swiss francs.<\/strong><\/p>\n <\/p>\n Exports to Russia<\/strong> came to a halt in March, falling below the 1 million Swiss francs mark, the watchmaking federation said.<\/p>\n <\/p>\n While Europe<\/strong> was suffering from the absence of tourists in 2021, growth has resumed with an increase in exports<\/strong> of 54.9% to the United Kingdom during the past month, 43% to Germany, 21.1% to France and 17.8% to Italy.<\/p>\n <\/p>\n […][\/vc_column_text][vc_cta h2=”This article is reserved for subscribers.” h2_font_container=”tag:h2|font_size:16|text_align:left” h2_use_theme_fonts=”yes” h4=”Subscribe now !” h4_font_container=”tag:h2|font_size:32|text_align:left|line_height:bas” h4_use_theme_fonts=”yes” txt_align=”center” color=”black” add_button=”right” btn_title=”I SUBSCRIBE !” btn_color=”danger” btn_size=”lg” btn_align=”center” use_custom_fonts_h2=”true” use_custom_fonts_h4=”true” btn_button_block=”true” btn_custom_onclick=”true” btn_link=”url:https%3A%2F%2Fluxus-plus.com%2Fen%2Fsubscriptions-and-newsletter-special-offer-valid-until-september-30-2020-2-2%2F”]Get unlimited access to all articles and live a new reading experience, preview contents, exclusive newsletters…<\/p>\n<\/h4>\n
Exports of Swiss watches continued to rise with +11.8% year-on-year to 2.1 billion euros.<\/h4>\n