Swiss Watch Exports Soar To A Record $27-Billion In 2022, With The U.S. Reigning As The Top Market & More Trending News

 

It was a file yr for world exports of recent Swiss watches in 2022. Exports from the nation elevated 11.4% for the yr to CHF 24.8-billion in Swiss francs (about $27-billion), in accordance with the Federation of the Swiss Watch Industry (FH). That represents wholesale worth, not retail worth. Total exports in 2021 had been CHF 22.3-billion (about $24.3-billion), by comparability, and CHF 17-billion (about $18.5) in 2020.

The enhance, which is due primarily to worth, for the reason that variety of models exported remained about the identical, is a constructive signal that the trade has recovered from the consequences of the slowdown in 2020 attributable to COVID. Swiss watch Exports in December, 2022 rose 5.8% to CHF 2-billion (about $2.2-billion), in comparison with exports in December 2021. That progress was pushed primarily by watches product of treasured metals (up 14.3%). Watches priced at over 3,000 francs had been the primary progress driver by worth for December, rising by 13.3%. Most markets noticed a major enhance aside from China, which declined by -22.5%, and Hong Kong, with a decline of -19.8%. The yr ended on a constructive notice for the United States, with a rise in December of 11.5%. Exports to Singapore elevated by 26.2%, and to Japan by 20.4%. European markets had been up 14.8% on common in December.

Most of the positive factors in 2022 had been powered by gross sales to the United States, the world’s largest marketplace for Swiss watches in 2022, with a 26.3% enhance over exports in 2021. The U.S. regained its spot from China, which dominated the market pre-COVID. Exports of Swiss watches to the U.S. elevated by 26.3% final yr, totaling CHF 3.9-billion (about $4.25-billion, practically doubling from 2020. Exports to China, the second-largest of the 30 markets tracked by the FH, had been down by -13.5% in 2022, to CHF 2.6-billion (about $2.8-billion). The third largest market is Hong Kong, adopted by Japan, the UK, Singapore, Germany and France. Rounding out the highest 10 are UAE and Italy. Watches priced over CHF 3,000 represented the biggest portion of exports by worth (about $19.6-billion) by way of exports for all of 2022 globally.

Swiss Watch Exports Soar To A Record $27-Billion In 2022, With The U.S. Reigning As The Top Market

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Swiss Watch Exports Soar To A Record $27-Billion In 2022, With The U.S. Reigning As The Top Market

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Swiss Watch Exports Soar To A Record $27-Billion In 2022, With The U.S. Reigning As The Top Market

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