Swiss watch exports recorded their best-ever performance

Demand for Swiss luxury watches has seen the sector record its best-ever performance. Citing a growth of 10.9 percent over 2021, November sales topped 2.4 billion francs, contributing to a stellar earnings year so far. Total exports for the year to date is 22,8 billion francs, up 11.9 percent over last year.

Data from the Federation of the Swiss Watch Industry FH says the United States was the biggest growth driver, with sales up 32.9 percent, the largest importer of Swiss watches.

In comparison exports to China fell -11.5 percent, as did Hong Kong, -8.9 percent. Japan and Singapore saw a growth of 20.2 percent and 29.1 percent respectively.

In Europe growth was more average, with exports up 14.5 percent in Germany, 17.6 percent to the UK and Italy 20.2 percent.

In terms of performance, luxury watches priced over 3,000 francs saw a 15.7 percent increase, in line with average priced watches under 200 francs (export price), which was up 15.6 percent. Mid-priced watches in the 200-500 franc segment saw a sharp decline in sales, with exports down -30.3 percent by value versus 2021.