Swiss Watch Export Value Rebounds in April, China Market Still Declines by 7.5%

6月 03, 2024

The latest data released by the Federation of the Swiss Watch Industry shows that in April 2024, the Swiss watch export value reached 2.1 billion Swiss francs, a 4.5% increase compared to the same period last year.

In April 2024, Swiss watch exports to major global markets performed as follows:

Exports to the Chinese Mainland declined by 7.5% year-on-year to 187 million Swiss francs.
Exports to Hong Kong increased by 0.2% year-on-year to 170 million Swiss francs.
Exports to the United States increased by 11.6% year-on-year to 339 million Swiss francs.
Exports to Japan increased by 13.6% year-on-year to 172 million Swiss francs.
Exports to Singapore increased by 12.5% year-on-year to 146 million Swiss francs.
Exports to the United Kingdom increased by 4.6% year-on-year to 142 million Swiss francs.
Exports to Germany increased by 8.9% year-on-year to 115 million Swiss francs.
Exports to Italy increased by 5.3% year-on-year to 91.2 million Swiss francs.
Exports to France increased by 0.4% year-on-year to 107 million Swiss francs.
Exports to the UAE increased by 13.3% year-on-year to 106 million Swiss francs.

After a significant drop in March, Swiss watch exports rebounded in April. Among the top twelve markets, only the Chinese Mainland saw a decline. Year-to-date, Swiss watch exports have decreased by 2.6% compared to last year.

In April, among the 30 markets, declines were observed in the Chinese Mainland (-7.5%), Taiwan (-4%), Australia (-1.1%), Thailand (-30.7%), Saudi Arabia (-56.5%), Qatar (-3.7%), and Bahrain (-11.6%).

Swiss watch exports to the six major markets (the United States, the Chinese Mainland, Japan, Hong Kong, Singapore, and the United Kingdom) grew by 5.8% year-on-year to 1.155 billion Swiss francs in April, contributing 53.8% to the global market’s total export value.

By material, the export volumes of watches made from precious metals, steel, and steel and gold all recovered, with only steel watches showing a 2% decline in export value.

In April, the specific export performance of Swiss watches by material was as follows:

Precious metal watches: export volume increased by 6.3%, export value increased by 5.9%.
Steel watches: export volume increased by 0.4%, export value declined by 2%.
Steel and gold watches: export volume increased by 0.8%, export value increased by 4.9%.
Other metal watches: export volume declined by 5.7%, export value increased by 23.7%.
Watches made from other materials: export volume declined by 13.6%, export value increased by 16.2%.

In April, the export performance of Swiss watches by price range was as follows:

Watches priced below 200 Swiss francs: export volume declined by 6%, export value declined by 1.2%.
Watches priced between 200 and 500 Swiss francs: export volume declined by 1.5%, export value declined by 1.3%.
Watches priced between 500 and 3000 Swiss francs: export volume declined by 7.7%, export value declined by 10%.
Watches priced above 3000 Swiss francs: export volume increased by 6.1%, export value increased by 7.8%.