Swiss watch exports jumped in March as orders from Hong Kong surged after the Chinese territory reopened from harsh Covid restrictions, bolstering strong global demand for luxury timepieces.
This content was published on
1 minute
Bloomberg
العربية
ar
اجراءات الإغلاق في الصين عزّزت مبيعات الساعات السويسرية
Exports climbed 13.8% by value to CHF2.4 billion ($2.7 billion), with shipments increasing by almost 62% to Hong Kong, the Federation of the Swiss Watch Industry said Tuesday.
Global demand for Swiss luxury timepieces spiked during the pandemic and has remained robust despite economic headwinds. Exports surged to a record of more than CHF24 billion in 2022.
Exports by volume of timepieces also rose during the month. The industry exported almost 300,000 additional watches in one month, an increase of 24% compared with March 2022, for a total of more than 1.5 million.
The number of watches exported priced at less than CHF200 jumped by 34%, likely driven by the continued popularity of Swatch Group’s Omega MoonSwatch collaboration.
There were, however, signs of cooling in demand from the biggest market for Swiss watches. Growth in exports to the US slowed to a 7.8% increase in March after jumping by almost 16% in February.
Top Swiss watch brand CEOs from Patek Philippe to Oris Watches told Bloomberg this month that there were early signs of a slowdown in demand from consumers and retailers from the unprecedented levels reached during the pandemic.
More
More
Swiss watchmakers waiting for China to wake up
This content was published on
The major luxury watch brands are banking on the re-opening of China to ensure their growth in 2023.
As a Swiss Abroad, how do you feel about the emergence of more conservative family policies in some US states?
In recent years several US states have adopted more conservative policies on family issues, abortion and education. As a Swiss citizen living there, how do you view this development?
‘Confederation is a subsidy machine’: Swiss finance minister
This content was published on
The Swiss government is a machine for distributing subsidies to various actors in the country, says finance minister Karin Keller-Sutter.
Lack of funds ends third bid to salvage Säntis ship from Swiss lake
This content was published on
A third attempt to salvage the steamship Säntis, lying at the bottom of Lake Constance in Switzerland since 1933, has failed before it has even begun.
Nestlé Waters on trial in France over illegal waste dumps
This content was published on
Bottled water producer Nestlé Waters to stand trial, accused of illegally dumping waste and maintaining unauthorised dumps.
Swiss army chiefs defend botched procurement projects
This content was published on
Swiss defense Minister and military heads defend against parliamentary and media criticisms of problematic procurement projects.
Swiss cheese exports recorded second-best year in 2024
This content was published on
A total 79,268 tons of Swiss cheese worth CHF748.5 million was exported abroad in 2024 - a 7.9% increase in annual sales from the previous year.
This content was published on
Insects benefit from storm devastation, says a 20-year study by the Swiss Federal Institute for Forest, Snow and Landscape Research.
Watches and Wonders: Geneva event emerges as leading global watch salon
This content was published on
Support generated by the fair within the watch community is essential, says Serge Maillard, editor of the specialist watch magazine Europa Star.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.