Swiss Watch Slump: Exports to China down 25%
April 02, 25
(IDEX Online) - Swiss watch exports slumped in February, down 8.2 per cent, with sales in China down by a quarter.
The Federation of the Swiss Watch Industry Exports (FHS) described it as a "marked slowdown in an uncertain climate".
It follows a brief return to growth in January, when foreign sales rose by 4.1 per cent after a 2024 marked by steady decline.
China, the third biggest market for Swiss watches, saw sales plunge by 25 per cent year-on-year in February. Exports to Hong Kong, the second biggest market, fell by 12.5 per cent, and they were down 19.1 per cent to Japan.
In the US they fell 6.7 per cent, in marked contrast to a 16.2 per cent increase the previous month.
"Most of the main markets saw significant declines in February," the FHS said in its monthly update. "Swiss watch exports fell back by 8.2% in February, despite a favourable base effect."
The six biggest markets, representing just over half of all Swiss watch exports, recorded a combined decease of 12.5 per cent.
Mid-priced watches - CHF 500 to CHF 3,000 ($550 to $3,300) - suffered the biggest losses, down over 15 per cent by value.