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May with clearly positive signs for Swiss watch exports. During the month, exports of Swiss watches amounted to 2.33 billion francs (2.38 billion euros at current exchange rates), an increase of 14.4% compared to a year earlier. In the first five months of 2023 as a whole, Swiss exports amounted to 10.88 billion francs (11.1 billion euros), an increase of 11.3% compared to the same period last year.
The performance of the top ten markets in May confirms the leadership of the United States, which has overcome its slight decline in April; the progress of China and Hong Kong; the solidity of Japan; a mixed panorama for Europe, with Italy registering a good leap and rising from tenth to ninth place.
These are the figures, with the amount of Swiss exports and the percentage increase or decrease: United States 359 million francs (+9.8%), China 237 million (+158%, there is also an effect statistic, last year was marked by lockdowns), Hong Kong 227 million (+19.2%), Japan 161 million (+11%), United Kingdom 155 million (+6.7%), Singapore 135 million ( -1.7%), France 122 million (-2.9%), Germany 118 million (+9.1%), Italy 102 million (+23.1%), United Arab Emirates 101 million (+14.6% ).
During the month, exports increased for both high-end and entry-level watches. This is the trend in the various segments: +14.5% for the high range (prices above 3,000 francs), +15% for the medium-high range (prices between 500 and 3,000 francs), -3.7% for the medium range (price between 200 and 500 francs), +27.4% for the basic range (price under 200 francs).
Having said of the dynamics in the month of May, which show the positive sign for eight markets of the top ten and the negative sign for only two, a look at the figures for the first five months of this year allows us to record growth for all ten main markets. These are the data: United States 1.6 billion francs (+10.1%), China 1.1 billion (+29.8%), Hong Kong 1 billion (+26.1%), Japan 732 million (+ 5.1%), United Kingdom 679 million (+8.4%), Singapore 676 million (+8.6%), Germany 560 million (+10.7%), France 517 million (+12.3%) , United Arab Emirates 500 million (+12.4%), Italy 421 million (+13%). Just outside the top ten, there is the descent of South Korea (eleventh, with 274 million, that is -14%), which was influenced by the lower influxes of Chinese tourists.