Leap of Swiss watch exports in March. Exports of Swiss timepieces amounted to 1.87 billion francs (1.70 billion euros), an increase of 37.2% compared to a year earlier. For the whole of the first three months of 2021, the Swiss export of watches amounted to 5.07 billion francs (4.61 billion euros), with an increase of 6.6% compared to the same period of 2020.
The strong growth in March is partly the result of the objective recovery that is being recorded in the sector and partly of a statistical effect: in the same month last year there was in fact a marked fall, linked to the first wave of the coronavirus. Keeping in mind this statistical effect concerning the relationship with 2020, it is even more interesting to go and see the comparison between the current data and the correspondents of 2019, a year not affected by the virus: the increase for the month of March is in this case of 7.4%, while for the first quarter there is a slight decrease of 1.3%.
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The main driving force in March of this year was again China, followed in order by the United States and Hong Kong; Italy, on the rise, confirms its tenth place. This was the trend in the month for the top ten markets: China + 100.5%, USA + 12.8%, Hong Kong + 30.1%, Japan -11.1% (the only market of the top ten in negative ), Singapore + 21.7%, United Kingdom + 0.3%, United Arab Emirates + 10.3%, Germany + 40%, France + 86.7%, Italy + 113.2%.
The export of Swiss watches of all ranges recorded increases in March, with peaks in the medium-high price range (between 500 and 3,000 francs) and in the medium range (200-500 francs); the high range (over 3,000 francs) and the basic range (under 200 francs) also recorded large increases compared to a year earlier.
As for the first three months of 2021 as a whole, this was the trend for the top ten of the markets: China + 94.5%, United States + 3.9%, Hong Kong + 8.4%, Japan -11.4%, Singapore stable, United Kingdom -9.3%, United Arab Emirates + 2.5%, Germany -3.1%, France + 0.7%, South Korea -11%. Italy is in eleventh place in the quarter, with an increase of 1.2%.