Jue, Jun 20th 2024
Swiss watch exports decreased by 2.2% in May, driven by weak demand from Asia. This trend follows a mixed start to the year for the Swiss watch industry.
Swiss watch exports fell by 2.2% year-on-year to CHF 2.29 billion in May, as reported by the Federal Office for Customs and Border Security (FOCBS) and the Federation of the Swiss Watch Industry (FH) on Thursday. Although orders from the USA, the largest sales market, just about maintained their level, exports to Asia weakened.
This decline continued the trend seen in the first four months of the year, explained the FH with regard to the May figures. After five months, Swiss watch exports were 2.5% below the record level of the previous year.
The start to the year has been mixed for the industry. Exports shrank by 16% in March and by just under 4% in February. However, in January, exports of “Made in Switzerland” timepieces increased by 3%, and in April, they rose by 4.5%.
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