In January 2024, the Swiss watch industry’s exports amounted to 1.9 billion Swiss Francs, marking a 3.1% increase compared to the same period last year.
For January 2024, the performance of Swiss watch exports to the major global markets is as follows:
- Exports to Mainland China grew by 5% year-on-year to 194 million Swiss Francs.
- Exports to Hong Kong, China, decreased by 4.7% year-on-year to 160 million Swiss Francs.
- Exports to the USA increased by 2.2% year-on-year to 326 million Swiss Francs.
- Exports to Japan grew by 6.2% year-on-year to 122.6 million Swiss Francs.
- Exports to Singapore increased by 10.2% year-on-year to 122.8 million Swiss Francs.
- Exports to the UK grew by 2.9% year-on-year to 110 million Swiss Francs.
- Exports to Germany fell by 11.4% year-on-year to 92.9 million Swiss Francs.
- Exports to Italy increased by 4.3% year-on-year to 76 million Swiss Francs.
- Exports to France grew by 8.7% year-on-year to 92.6 million Swiss Francs.
- Exports to the UAE increased by 4.8% year-on-year to 97.8 million Swiss Francs.
The data from January indicates a slowing trend in the growth of Swiss watch exports, yet it remains at a “significant level.”
Apart from the declines in exports to Hong Kong, China (-4.7%), and Germany (-11.4%), other major markets showed growth.
In January, the total export value of Swiss watches to the six major markets of the USA, Mainland China, Hong Kong, China, Singapore, Japan, and the UK increased by 3% to 10.35 billion Swiss Francs year-on-year, accounting for 54% of the total.
Moreover, Qatar emerged as one of the highlight markets in January, with Swiss watch exports growing by 118.4% year-on-year to 38.3 million Swiss Francs, primarily due to several industry-related events held locally, especially the Doha Jewellery and Watches Exhibition at the beginning of February.
At point of writing, 1 Swiss Franc = 1.14 USD
| Source: Federation of the Swiss Watch Industry official website
| Image Credit: Federation of the Swiss Watch Industry official website
丨Reporter：Jiang Jingjin
| Editor: LeZhi
