Home » Swiss watches, exports up 12.5% ​​in the first four months

Swiss watches, exports up 12.5% ​​in the first four months

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Swiss watches, exports up 12.5% ​​in the first four months

The key points

  • In April, exports amounted to 1.92 billion francs, + 7.3% over the same period of 2021
  • In April USA up by 37% and Italy up by 25.5%
  • The Italian market is in tenth place both in April and in the first four months of this year

Export of Swiss watches still in progress. Exports of Swiss timepieces amounted to 1.92 billion francs (1.87 billion euros) in April, an increase of 7.3% compared to the same month last year. For the first four months of 2022, the export of Red Cross watches was 7.72 billion francs (7.50 billion euros), 12.5% ​​more than in the same period of 2021.

USA and Europe are driving exports in April

Above all, the United States and the main European markets, including Italy, did well. Differentiated situation in Asia, where Hong Kong and China have experienced large decreases – also due to the return of the pandemic and lockdown – and Japan and Singapore have instead had good increases. This is the trend of the top ten markets, in order, in April: United States + 37%, Hong Kong -21.1%, Japan + 18.2%, Singapore + 29.7%, United Kingdom +21 , 2%, Germany + 13.2%, China -57.8%, United Arab Emirates + 8.9%, France + 48.6%, Italy +25.5 percent.

During the month there was yet another confirmation of the driving role of high-end watches, with prices above 3,000 francs, which saw an increase in the value of exports equal to 11.5%. The mid-high range timepieces, priced between 500 and 3,000 francs, remained essentially stable (+ 0.6%). On the other hand, it fell for mid-range watches, priced between 200 and 500 francs (-27.7%), and for watches in the basic range, priced below 200 francs (-10.3%).

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The focus on the first quarter

The Swiss watchmaking hub accounts for over half of the sector’s worldwide turnover and exports over 90% of its production. The data provided each month by the Federation of the Swiss Watch Industry (Fh) are therefore relevant indicators for the entire sector. After a strong recovery in 2021 compared to a 2020 heavily affected by the pandemic, the Swiss timepiece hub closed the first quarter of 2022 with an increase in the value of exports equal to 14.3% compared to a year earlier. The 12.5% ​​progress in the first four months of 2022 is therefore slightly lower than in the first quarter, but remains robust overall.

The picture for the performance of the top ten markets in the period January-April 2022 is this: United States + 34.7%, China -20.9%, Hong Kong -8%, Japan + 17.9%, Singapore +19 %, United Kingdom + 31.4%, Germany + 26.1%, United Arab Emirates + 11.2%, France + 26%, Italy + 18.6%. The Italian market therefore managed to maintain its tenth place both in April and in the first four months of this year. In February it was South Korea that conquered the tenth position overtaking Italy, but the latter had already made the counter-overtaking in March, then confirmed in April.

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