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Swiss watch industry set to beat 2019 export record

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Global exports of Swiss watches are on track to top the record 2019 total of CHF 21.7 billion this year.

Despite the pandemic causing lock downs throughout the year as second and third waves of covid swept the planet, the value of Swiss watch exports has reached CHF 18.2 billion for the first 10 months of 2021.

In 2019, exports for the same 10 months were 17.96 billion.

The United States has been the biggest market for Swiss watches in the world this year, with imports worth CHF 2.5 billion, virtually tied with China in second, for the 10 months to the end of October.

American imports are up by 27% for the period compared to 2019.

Swiss watch sales are booming, with exports of CHF 2.1 billion in October the highest  monthly figure for the last seven years.

The entire industry is shifting further upmarket, compensating for falling unit sales by creating considerably more expensive watches.

Exports of watches made from precious metals rose by 19% in October, while steel watch exports increased by just 3.6%.

 

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