Who says trade shows don’t work?
A few months after the return of Watches and Wonders (pictured above), Swiss watch exports reached their highest monthly total since October 2014 in July, as the country remains on track for a record year.
Global exports grew by 8.3% year-on-year to CHF 2.2 billion.
For the first seven months of 2022, exports are up 11.4% to CHF 14.1 billion.
If this pace of growth is maintained, Swiss watch exports could top CHF 24 billion this year, up from CHF 22.3 billion in 2021.
Having overtaken China last year, USA is still the largest market in the world for Swiss watchmakers, worth CHF 3.1 billion to the industry in the first seven months of 2022, a 55% year-on-year increase.
China is growing strongly again and imported Swiss watches worth CHF 3.0 billion since the start of the year, but Hong Kong is still contracting.
The UK is the fifth largest market in the world, with imports valued at CHF 1.3 billion since January, a rise of 29.3%.
Other European markets also registered strong growth. France was up 11.5% in July, Germany up 12.6% and Italy up 31.3%. Including the UK, mature European markets occupy four of the top ten for Swiss watch exports.