The Swiss watch sales have sprung back to perform at the same level as before the pandemic, latest export figures compiled by the Federation of Swiss Watch Industry show.
Exports worth almost CHF 2 billion were recorded for June, exceeding the same month in 2019 by 12.5%.
For the first half of 2021, global exports worth CHF 10.6 billion are now less than one percent lower than in 2019 and rising fast.
Remarkably, 2021 is on track to be a record year for the Swiss watch industry.
The United States, described by Bucherer as a “rock star” market earlier this week, has bought Swiss watches worth CHF 275.5 million, comfortably making it the largest market in the world with 14% of all exports compared to 12% for China and 10% for Hong Kong.
For the first half of 2021, Swiss watch exports to the United States are up 24% compared to pre-pandemic 2019 and could end this year as the largest market in the world for the first time since Hong Kong overtook us in the late noughties.
Mainland China was the largest market in the world last year.
Globally, average transaction values continue to soar as growth in sales of the most expensive watches accelerates.
For watches priced at over CHF 3,000 exports are up 18.1% compared with June 2019, double the rate recorded for watches priced between CHF 500 and CHF 3,000.
The export value of watches priced below CHF 500 francs fell by 13.9%, while the number of units decreased by 30.1%.