News

Swiss Watch Exports Soared This July

August 30, 2021

422

After a deteriorated half yr, there was a “signal of restoration” in watch exports for July, following a primary half of the yr that was virtually equivalent to the interval earlier than the COVID-19 disaster.”

Exports of Swiss watches rose 29.1% in comparison with July 2019 figures, “pushed virtually solely by very sturdy efficiency in China”, the Federation mentioned. There was a rise of seven.6% in contrast with July 2020.

China continued to “carry out strongly” (+ 75% in contrast with 2019) whereas different foremost Asian markets, equivalent to Hong Kong (-24.8%), Japan (-4.1%) and Singapore (-3.4%) declined. The UK (+12.4%), France (+10.2%) and Germany (+5%) returned to progress, whereas Italy (-24.2%) “fell again sharply after a powerful month in June.”

The damaging pattern continued for watches priced at underneath 500 francs (export worth). This noticed falls of 18.7% by worth and 24.2% by numerous objects. The five hundred to three,000 francs very noticed modest progress, whereas watches priced at over 3,000 francs noticed their export worth enhance by 13.6%.

Very sturdy progress in the US (+48.5% in contrast with 2019), made it the main market in July and underlined the significance of the restoration there, which was in all probability buoyed by home consumption of some objects that may have been bought overseas earlier than the disaster. China continued to carry out strongly for a similar cause, with a rise of 75.0%.

The opposite foremost Asian markets, equivalent to Hong Kong (-24.8%), Japan (-4.1%) and Singapore (-3.4%) all declined. In Europe (+1.8% on common), the UK (+12.4%), France (+10.2%) and Germany (+5.0%) returned to progress, whereas Italy (-24.2%) fell again sharply after a powerful month in June (+33.6%).