According to the latest data from the Federation of the Swiss Watch Industry, Swiss watch exports in August 2024 reached CHF 1.95 billion, reflecting a 6.9% year-on-year growth.
For the first eight months of this year, total Swiss watch exports globally amounted to approximately CHF 17.1 billion, a 1.4% decrease compared to the same period last year.
Swiss Watch Export Performance in August 2024 to Key Markets:
- Exports to the Chinese Mainland decreased by 5.9% year-on-year to CHF 179 million, a significant improvement from the 32.8% drop in July.
- Exports to Hong Kong declined by 11.1% to CHF 132 million, also narrowing from July’s 19.1% decrease.
- Exports to the United States grew by 7.6% to CHF 320 million.
- Exports to Japan rose by 14.4% to CHF 143 million.
- Exports to Singapore increased by 9.3% to CHF 125 million.
- Exports to the UK rose by 3.5% to CHF 142 million.
- Exports to Germany grew by 2.9% to CHF 99.4 million.
- Exports to Italy increased by 17.6% to CHF 68.2 million.
- Exports to France rose by 0.7% to CHF 79.7 million.
- Exports to the UAE surged by 26.9% to CHF 85.6 million.
Among the top 12 markets in August, only the Chinese Mainland (-5.9%) and Hong Kong (-11.1%) saw declines, while other markets showed growth, including South Korea (+14.2%) and Spain (+8.4%).
In total, Swiss watch exports to 30 markets grew by 7.6% year-on-year to CHF 1.815 billion, accounting for 93.1% of the total exports. Aside from Thailand (-3.9%) and Ireland (-4.3%), other markets showed increases, with Taiwan (+47.6%), Canada (+31.7%), Mexico (+33.8%), India (+44.5%), Qatar (+52.1%), Austria (+21.8%), Belgium (+32.7%), Portugal (+15.6%), Bahrain (+20.3%), and the Philippines (a remarkable +324.3%) posting double-digit growth.
Swiss watch exports to the U.S., Chinese Mainland, Japan, UK, Hong Kong, and Singapore—the six major markets—rose by 2.8% year-on-year to CHF 1.041 billion in August, contributing 53.4% to the global market total.
Performance of Swiss Watch Exports by Material in August:
- Exports of watches made from precious metals grew by 3.7% in quantity and 21.2% in value year-on-year.
- Steel watch exports dropped by 10.5% in quantity and 7% in value.
- Exports of steel and gold watches increased by 2.6% in quantity and 12.7% in value.
- Exports of watches made from other metals decreased by 10.2% in quantity but rose by 11.4% in value.
- Watches made from other materials saw a 11.2% decline in quantity and a 1.5% decrease in value.
Swiss Watch Export Performance by Price Range in August:
- Watches priced below CHF 200 saw a 7.8% decline in quantity and a 7.6% drop in value.
- Watches priced between CHF 200 and CHF 500 experienced a 15.3% decline in quantity and a 13% decrease in value.
- Watches priced between CHF 500 and CHF 3,000 had a 19.9% drop in quantity and a 16% decline in value.
- Watches priced over CHF 3,000 saw a 4.7% increase in quantity and a 14.9% rise in value.
Detailed Report on Swiss Watch Exports in August 2024
(Charts Source: Federation of the Swiss Watch Industry Website)
- By Watch Material
- By Watch Price Range (Currency: Swiss Francs)
- Changes in the 12-Month Moving Average
(Note: At time of writing, CHF 1 is approximately equivalent to USD 1.18)
｜Source: Federation of the Swiss Watch Industry Website
｜Image Credit: Federation of the Swiss Watch Industry Website
｜Editor: LeZhi
