In November, exports of timepieces rose by 11% to CHF2.4 billion ($2.6 billion), reaching the best figure ever in a single month, said the Federation of the Swiss Watch Industry and the Federal Office for Customs and Border Security.
The industry is going from strength to strength: in October, exports increased by almost 7%, in September by as much as 19% and in August by 15%. And in the first 11 months taken together, watch exports grew by 12% to CHF22.8 billion.
Last year Swiss watches worth CHF22.3 billion were exported in the wake of the strong recovery from the crisis caused by the Covid pandemic.
US business
The driving force for the Swiss watch industry remains strong demand from the United States, according to the watchmaking federation.
In November, watches worth CHF400 million were exported across the Atlantic, an increase of 33% compared with the same month last year.
Markets in Asia, notably Japan and Singapore, have also recovered, while the strict anti-Covid measures in China and Hong Kong had a negative impact on the Swiss watchmaking business.
Demand is very good for both inexpensive and expensive Swiss watches. In November, the highest price category with watches at export prices of CHF3,000 and more increased by almost 16%. Exports in the cheapest segment at prices of less than CHF200 rose just as strongly, according to latest figures, notably as a result of the commercial success of Swatch’s MoonSwatch.
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