A record November for Swiss watch exports, which are thus starting to close 2022 on the wave of eleven months of marked progress. During the month, exports of Swiss timepieces amounted to 2.41 billion francs (2.45 billion euros at current exchange rates), a monthly figure never touched before; the increase compared to a year before is 10.9%. In the January-November period of this year, exports amounted to 22.80 billion francs (23.14 billion euros), with an increase of 11.9% in relation to the same period last year; in the eleven months, Swiss exports have therefore already exceeded that of the whole of 2021, equal to 22.29 billion francs.
With the month of December, naturally important also due to the sales trend during the Christmas holidays and the end of the year, the picture of exports will be completed, which so far have beaten the expectations of the beginning of 2022. Data from the Watch Industry Federation Switzerland (Fh) indicate that the main driving force remains that of the United States, which are confirmed as the number one market and which are in the 22nd month of marked growth. China and Hong Kong remain in second and third place respectively, but are still experiencing declines. In Asia it is mainly Japan and Singapore that are progressing further. Overall, the major European markets performed well, with the United Kingdom, Germany, France, Italy clearly positive in the eleven months and with only France slightly down in November.
This is the trend of the ten main markets in November: United States +32.9%, China -11.5%, Hong Kong -8.9%, United Kingdom +17.6%, Japan +20.2% , Singapore +29.1%, Germany +14.5%, France -0.6%, United Arab Emirates -3.2%, Italy +20.2%. It should be noted, behind the top ten, the leap of Qatar (+112%), which rose to 14th place against 19th in the previous month, in all likelihood also thanks to the effect of the soccer world championships and the tourist flows linked to these . For the entire January-November 2022 period, this is the picture of the top ten markets: United States +27.7%, China -12.8%, Hong Kong -9.7%, Japan +19, 4%, United Kingdom +21.7%, Singapore +26.4%, Germany +21.8%, France +24.2%, United Arab Emirates +11.6%, Italy +12.3%.
Returning to the month of November, the monthly export record was obtained above all thanks to the umpteenth increase in high-end watches (+15.7% in value), those with a price exceeding 3,000 francs; for medium-high range timepieces, with prices between 500 and 3 thousand francs, there was stability; for mid-range watches, priced between 200 and 500 francs, there was a sharp drop, of 30.3%; finally, for watches in the basic range, with prices under 200 francs, there was good progress, equal to 15.6%. The Swiss watch industry represents over 50% of the world‘s turnover in the sector and exports over 90% of production, the Swiss export figures are therefore an indicator followed not only in the Swiss Confederation but also internationally.