In 2023, exports of Swiss watches reached a new record – Kommersant

Federation of the Swiss Watch Industry (FHS) reported, that at the end of 2023, Swiss watch exports amounted to 26.7 billion Swiss francs ($31 billion), which is 7.6% more than in 2022 and is a new record. The growth was especially impressive in the first half of the year – by 11.8% compared to the same period in 2022. In the second half, growth slowed down slightly, amounting to 3.6%. A record was also recorded for the number of employees employed in watch production in Switzerland: according to the FHS, the total number reached 65 thousand, which is 7.7% more than a year earlier.

The most popular segment of Swiss watches – wristwatches – grew by 7.7% in 2023, to 25.5 billion Swiss francs ($29.6 billion). In quantitative terms, the growth was 7.2%, to 16.9 million units. Speaking about the main markets for Swiss watches, FHS noted that 49% of exports last year came from Asia, 30% from Europe and 19% from North and South America. All of these markets saw an increase in shipments of Swiss watches last year: in Asia – by 8.2%, in Europe – by 6.8%, in the Americas – by 6.7%.

Evgeny Khvostik