Overview of the Swiss Watch Industry (FH) Export Market in June 2024

1. The Swiss watch export data shows that the export value in June 2024 was 2.3 billion Swiss francs, a decrease of 7.2% compared to June 2023. The cumulative export value for the first 6 months was 12.9 billion Swiss francs, a decrease of 3.3% compared to the same period last year.

2. The export of steel watches decreased by 15.5%, which is the main reason for the overall decline. Precious metal watches remained stable, with an increase of only 0.3%.

3. Categorized by price range, watches priced above 3,000 Swiss francs performed relatively stable, with a decrease of only 0.5%. Other price ranges experienced significant declines, especially the 500-3,000 Swiss francs segment, which accounted for more than 80% of the total decline.

4. The performance of major markets was mixed. The United States (+6.5%) and Japan (+13.2%) saw strong growth, but Hong Kong (-23.1%) and China (-36.5%) continued to struggle. Other Asian markets such as Singapore (-10.8%), the United Arab Emirates (-19.6%), and South Korea (-8.6%) also experienced significant declines. The European market as a whole declined by 4.1%, with the United Kingdom (-2.3%), France (-0.1%), and Germany performing relatively better.

Source: Swiss watchmaking in June 2024 Marked decline