Swiss watch exports in August 2021 decrease by 0.4% compared to the same period in 2019

According to data just released by the Federation of the Swiss Watch Industry (FH), Swiss watch exports in June 2021 were 1.52 billion Swiss francs, a decrease of 0.4% compared to the same period in 2019, basically the same. This monthly result has not affected the trend since the beginning of the year, and the performance in the first eight months is still close to the level of the same period in 2019 (+0.7%).

However, the increase in stainless steel watches (+3.3%) was not enough to offset the decline in gold watches (-4.2%) and precious metal watches (-1.7%). In terms of export volume, watches of all material categories have seen a double-digit decline, and watches of other materials (-51.8%) have been particularly affected. Compared with August 2019, the export volume has been reduced by half.

There are significant differences between watches in different price segments. Compared with August 2019, the export value of watches with an export price of less than CHF 200 has dropped by one-third. The export price of watches between 200 Swiss francs and 500 Swiss francs has halved, but it is still significant. The export value of watches with an export price of between 500 Swiss francs and 3,000 Swiss francs fell by 3.1%, while the export value of the most expensive watches (with export prices higher than 3,000 Swiss francs) increased by 3.9%.

Mainland China (+55.3%) and the United States (+19.6%) continue to maintain a very positive development trend, followed by the UAE (ranked 8th, +32.6%) and Saudi Arabia (ranked 13th, +44.6%). In contrast, some large markets fell sharply, including Hong Kong (-26.2%), Japan (-37.0%), France (-20.4%), and South Korea (-32.4%). In Europe (-2.4%), the United Kingdom (+3.0%), Germany (-2.6%) and Italy (+5.0%) remained relatively stable.

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