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Swiss watch exports on the rise in March

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Exports of Swiss watches continued to rise with +11.8% year-on-year to 2.1 billion euros.

 

The 2 billion Swiss franc mark was passed “for the first time this early in the year“, the Swiss watchmaking federation said. In January, exports rose by 6.8% and in February by almost a quarter. Over the first three months, the increase was 14.3% to 5.8 billion Swiss francs.

 

Exports to Russia came to a halt in March, falling below the 1 million Swiss francs mark, the watchmaking federation said.

 

While Europe was suffering from the absence of tourists in 2021, growth has resumed with an increase in exports of 54.9% to the United Kingdom during the past month, 43% to Germany, 21.1% to France and 17.8% to Italy.

 

On the other hand, China, which has been a major contributor to the growth of Swiss exports for several years, fell back in March with a 27.6% drop due to restrictions linked to Covid-19. Nevertheless, the country remains the second most important market for the industry. Following the same trend, Hong Kong, in third place, posted a decline of 9.3%.

 

The watchmaking federation stressed, however, that these exports remain at a “very high level (…) after several years of sustained and uninterrupted growth“.

 

In terms of price categories, only watches with an export price of 3,000 Swiss francs or more saw a strong improvement of +15.8% in sales and an increase of 13.9% in volume. In contrast, the 200-500 Swiss francs category contracted significantly.

 

The export market has a bright future ahead of it, especially thanks to Europe, but investors are watching the effects of the confinements in China, as this is a regular and very important market for Switzerland.

 

 

Read also> SWITZERLAND: WATCH EXPORTS SOAR IN JANUARY THANKS TO EUROPE

 

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Exports of Swiss watches continued to rise with +11.8% year-on-year to 2.1 billion euros.

 

The 2 billion Swiss franc mark was passed “for the first time this early in the year“, the Swiss watchmaking federation said. In January, exports rose by 6.8% and in February by almost a quarter. Over the first three months, the increase was 14.3% to 5.8 billion Swiss francs.

 

Exports to Russia came to a halt in March, falling below the 1 million Swiss francs mark, the watchmaking federation said.

 

While Europe was suffering from the absence of tourists in 2021, growth has resumed with an increase in exports of 54.9% to the United Kingdom during the past month, 43% to Germany, 21.1% to France and 17.8% to Italy.

 

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Exports of Swiss watches continued to rise with +11.8% year-on-year to 2.1 billion euros.

 

The 2 billion Swiss franc mark was passed “for the first time this early in the year“, the Swiss watchmaking federation said. In January, exports rose by 6.8% and in February by almost a quarter. Over the first three months, the increase was 14.3% to 5.8 billion Swiss francs.

 

Exports to Russia came to a halt in March, falling below the 1 million Swiss francs mark, the watchmaking federation said.

 

While Europe was suffering from the absence of tourists in 2021, growth has resumed with an increase in exports of 54.9% to the United Kingdom during the past month, 43% to Germany, 21.1% to France and 17.8% to Italy.

 

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Hélène Cougot

Passionate about art and fashion, Hélène went to a fashion design school: the Atelier Chardon-Savard. She then completed her training with an MBA in Marketing at ISG. She has written for the magazine Do it in Paris and specializes in writing articles about luxury, art and fashion for Luxus +.

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