Swiss Watch Exports Return to Growth

(IDEX Online) - Swiss watch exports enjoyed a return to growth in January - up 4.1 per cent after a 5.4 per cent year-on-year dip in December 2024.

Foreign sales surged in the two biggest markets, the US and Japan, by 16.2 per cent and 26.2 per cent respectively, according to the latest figures form the Federation of the Swiss Watch Industry Exports (FHS). 

In December the US saw Swiss watch imports down by by 1.0 per cent during the month and they fell by 12.7 per cent in Japan.

But the decline continues in Hong Kong and China, now the third and fourth biggest markets for Swiss watches. In Hong Kong imports were down 11.7 per cent (compared to 6.4 per cent in December) and in China they fell 29.1 per cent (compared to 19.0 per cent in December).

"The United States maintained its position as the leading market for Swiss watch exports, recording steady growth in January. Japan stood out for a remarkable upswing," said FHS in its monthly update.

"Conversely, Hong Kong and China continued on a downward trend, with markedly poor performance."

Overall sales for the month were just short of CHF 2bn (S2.2bn), down marginally on December which is boosted by holiday spending.