Swiss watch exports set a new record in 2023
Published: Tuesday, Jan 30th 2024, 08:40
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Last year, Swiss watch manufacturers exported more timepieces to the world than ever before, measured in Swiss francs. The industry received a tailwind from Asia in particular. Watch exports continued to increase towards the end of the year.
In December, watch exports rose by 5.5% to CHF 2.14 billion compared to December 2022, as reported by the Federal Office for Customs and Border Security (FOCBS) and the Federation of the Swiss Watch Industry (FH) on Tuesday. Immediately prior to this, exports also increased well in both November (+3.1%) and October (+5.1%).
Over the year as a whole, watch exports exceeded the 2022 figure as expected and are therefore at a record level. According to the figures, they increased by 7.6% to 26.7 billion Swiss francs. Asian markets such as China (+7.6%), Hong Kong (+23%) and Japan (+7.7%), which have at least partially recovered from the coronavirus crisis, made an important contribution to this. However, sales also increased in the USA (+7.0%), the largest sales market.
In the current year, the watch association expects a slowdown in both exports and employment figures, according to the press release. Several brands have already announced that their forecasts are rather cautious. The "extremely strong" Swiss franc is also a burden. However, the association believes that overall results are likely to maintain their high level or even increase slightly.
©Keystone/SDA
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