watches
Watch exports hit record high in 2022
Last year, Swiss watch manufacturers exported more watches than ever before, measured in Franconia. The timepieces were in high demand in what is now the largest sales market, the USA, while lockdowns weighed on business in China.
Published: 16 minutes ago
Watch exports at record level thanks to high demand from the USA (symbol image)
In 2022, watch exports climbed by 11 percent to CHF 24.8 billion, as announced by the Federal Office of Customs and Border Security (BAZG) and the Association of the Swiss Watch Industry (FH) on Tuesday. The industry had already topped the previous year’s record of 22.3 billion after just eleven months.
Demand in the USA remained high. After skyrocketing 55 percent in 2021, watch exports to the US jumped another 26 percent last year. The picture in China is very different. Exports to the “Middle Kingdom” fell by 14 percent in 2022.
Unsurprisingly, growth momentum slowed towards the end of the year. From month to month it is becoming more difficult for the industry to jump over the ever-increasing hurdles from the previous year. In December, exports increased by 5.8 percent to CHF 2.02 billion. In November and October, growth rates of +11 and +7 percent respectively were reported.