Export of Swiss watches grew by 13.8% in March – Kommersant

The Swiss Federation of the Watch Industry presented on Tuesday, April 25, data on the export of watches (.pdf) in March 2023. According to the report, the value of exports increased by 13.8% and amounted to 2.4 billion Swiss francs ($2.7 billion). 1.5 million watches were sold, which is 300 thousand (24%) more than in March last year.

The Federation noted that the rise was noted in all price categories. The highest growth rate was shown by the export of watches cheaper than 200 Swiss francs – 34%. The segment of watches costing from 200 to 500 francs grew less than others – 2.7%. In other segments, the increase ranged from 12.8% to 19.7%.

The United States remains the main market for Swiss watches, with a share of 15.3%. Export growth has been recorded here for the 27th month in a row. True, the federation’s experts note a certain cooling of the market. In March, the increase in exports to the US amounted to 7.8% against 16% in February.

Hong Kong ranks second in terms of exports (share – 11.1%) and first – in terms of growth (61.9%). The third market in terms of exports is China (share – 10.9%), in terms of growth rates it ranks fourth (14%).

Andrey Kelekeyev