Swiss Watch Exports in November Break Seven-year Monthly Record
PARIS — The Federation of the Swiss Watch Industry on Tuesday released results for November, the best monthly turnout since the record set in October 2014.
Swiss watch exports came in at 2.17 billion Swiss francs, or $2.36 billion at current exchange, a rise of 11.9 percent versus the same prior-year period and 8.6 percent against November 2019.
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The federation gives comparables to 2019 — pre-coronavirus crisis levels.
“Despite some significant disparities, growth has continued to accelerate in recent months, again confirming the recovery underway in the sector,” the FHS said in a statement.
Watches made from precious metals shined the brightest in November, with sales up 18.4 percent versus 2019 to 755.7 million francs, generating more than half of the total sector growth.
Overall volumes decreased, however, falling 12.5 percent against two years ago, with 230,000 fewer watches exported than in November 2019. Steel timepieces dragged the volume results down, with 13.1 percent less units selling abroad.
The only wristwatch category to register sales gains were those priced at more than 3,000 francs, which posted a 16 percent increase.
Sales results were mixed on a geographic basis. The biggest upticks versus 2019 came from the largest timepiece export markets: the U.S., with 21.8 percent growth, and China, with 34.7 percent gains. The U.K. registered a 33.1 percent rise.
Meanwhile, markets with negative sales growth included Hong Kong, the sector’s third-largest market, down 4.6 percent; Japan, at minus 7 percent, and Singapore, which declined 16.8 percent.
In total in the first 11 months of 2021, Swiss watch exports were up 2.1 percent versus November 2019 to 20.4 billion francs.
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