Month after month, the recovery of the Swiss watch industry is confirmed, the main pole of the sector worldwide in terms of turnover. The Swiss hub exports over 90% of its production and therefore looks at export data as a fundamental thermometer.
The plus sign compared to 2019
In September this year, exports of Swiss watches were 1.88 billion francs (1.76 billion euros), 16.6% higher than a year earlier and the 3.1% more than in the same month of 2019. This second percentage is considered more significant, because it is clear that 2020 was marked by the unusual contraction linked to the pandemic. For the first nine months of 2021 as a whole, exports of Swiss timepieces amounted to 16.08 billion francs (14.99 billion euros), 40.5% more than a year earlier and the 1% more than in the same period in 2019.
The pre-coronavirus export levels have therefore been reached and exceeded. The export figures also allow us to see how individual markets have fared.
The tow of the high range
Here is the picture of the ten largest markets in September, compared with the same month of 2019: United States + 28.5%, China + 45.3%, Hong Kong -20.4%, United Kingdom +12, 8%, Japan -21%, Singapore -3.1%, Germany -4.5%, France + 4.1%, United Arab Emirates -14%, Italy -20%. Also in September, high-end timepieces (with a price above 3,000 francs) and medium-high range (between 500 and 3,000 francs) pushed exports of Red Cross watches; both of these segments had a positive sign, also compared to 2019. The export of watches with a price between 200 and 500 francs and under 200 francs instead had a negative sign in the month. The trend towards strengthening the already existing prevalence of the high and medium-high ranges can also be traced to the overall decline in exported pieces, even in September, in contrast to the increase in export value: in essence, fewer pieces but more turnover.
The top ten of the first 9 months
As for the period January-September 2021, this is the trend of the ten largest markets, again with the comparison with the same period in 2019: China + 60.7%, United States + 25.8%, Hong Kong -23.9% , Japan -14.9%, United Kingdom -7.3%, Singapore + 1.2%, Germany -7.7%, United Arab Emirates -0.1%, France -13.8%, Italy -11, 8%. All these markets, including Italy, are largely positive compared to the same period last year, but as mentioned, this is considered a positive and yet less relevant fact, given the pandemic effect that hit 2020. The overall balance sheet it still sees China and the United States as its main drivers, followed at a distance by Singapore.