Watch exports recover slightly in July
Published: Tuesday, Aug 20th 2024, 08:20
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After the recent setbacks, Swiss watch manufacturers sold slightly more abroad in July. However, exports to Hong Kong and China continue to weaken.
Swiss watch exports rose by 1.6 percent year-on-year to 2.24 billion Swiss francs in July, the Federation of the Swiss Watch Industry (FH) announced on Tuesday. Over the first seven months, exports totaled 15.2 billion Swiss francs, which is still 2.4 percent below the previous year's figure.
In particular, growth rates in the important markets of Hong Kong (-19.1%) and China (-32.8%) were again strongly negative in July, while exports to the USA, clearly the largest export market for Swiss watches, increased significantly (+11.3%). Japan saw the strongest growth (+25.6%).
The trend so far this year has been mixed. Exports fell by 16% in March in particular, while January (+3%) and April (+4.5%) saw the strongest growth in exports of "Made in Switzerland" timepieces.
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