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Swiss watches, exports in 2022 at 25 billion francs (+11.4%)

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Swiss watches, exports in 2022 at 25 billion francs (+11.4%)

2022 was a good year for Swiss watch exports, with figures eventually exceeding the average forecast. An important signal for the Swiss timepiece industry, but also more generally for the sector, considering that the Swiss pole represents over 50% of the sector’s worldwide turnover and exports more than 90% of its production.
Swiss watch exports in the year just ended amounted to 24.83 billion francs (about the same amount in euros, at current exchange rates), an increase of 11.4% compared to 2021. In the month of December alone Swiss exports amounted to 2.02 billion francs, with an increase of 5.8% compared to the same month in 2021.

Boom in the USA, Singapore and Japan. Well Europe

In 2022, only China and Hong Kong among the main markets recorded the negative sign. A largely positive sign for the United States, which are in first place as an outlet market, but a good situation also for Japan and Singapore in Asia and for the major European markets, including Italy. This is the trend of the ten main markets in the period January-December 2022: United States +26.3%, China -13.6%, Hong Kong -10.5%, Japan +19.5%, United Kingdom +21, 5%, Singapore +26.4%, Germany +21.7%, France +24.1%, United Arab Emirates +12.7%, Italy +13.4%. For December alone, this is the framework for the top ten markets: United States +11.5%, China -22.5%, Hong Kong -19.8%, Singapore +26.2%, Japan +20.4%, United Kingdom +18, 1%, United Arab Emirates +22.5%, Germany +20.4%, France +22.8%, Italy +26.8%.

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In the month, the main driving force was once again high-end watches, with prices exceeding 3,000 francs, which recorded a 13.3% increase in value compared to a year earlier; on the other hand, there was a 9.7% increase for timepieces in the basic range, priced below 200 francs; for the medium-high range with prices between 500 and 3 thousand francs and for the medium range with prices between 200 and 500 francs there was a negative sign, respectively -14.3% and -25.7%.

Swatch Group, revenues up 4.6%. Record expectations for 2023

Swatch Group, a Swiss group present in all product ranges with its various brands, has disclosed the data for its 2022 financial year. The turnover of the Bienne group was 7.49 billion francs in the year just ended, with an increase of 4.6% on 2021, at constant exchange rates; net income is 823 million francs, up 6.3% on the previous year. Apart from China, the group recorded good revenue increases in local currencies in all economic areas. After last year’s anti-pandemic lockdowns and the consequent contractions in sales, in China, however, in this first month of the new year, the group reports that it has achieved solid revenues. Swatch Group has stated that it foresees exceptional opportunities worldwide for 2023 and therefore the possibility that the year that has just begun will be a record one.

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