Swiss watch exports rose in August, as solid growth in Europe and Asia outweighed a sharp decline in the US market.
Shipments of timepieces increased 9% year on year to CHF 1.79 billion ($2.17 billion) for the month, the Federation of the Swiss Watch Industry reported Thursday. This followed July’s 10% rise, making August the fourth consecutive month of growth. The rise in August brought the 12-month moving average into positive territory for the first time since 2024, it added.
“Despite a favorable basis for comparison, exports to the US declined sharply in August,” the federation said. “Conversely, the other main markets grew to a more or less significant degree. The UK, Japan, China [and] Hong Kong…all increased, benefiting from a favorable base effect. [The] atypical position of France could, as the result of a communicating vessels effect, be to the detriment of other markets in the region.”
Exports to the US declined 19% to CHF 197.5 million ($239.2 million). Shipments to the UK spiked 46% to CHF 164.7 million ($199.5 million), while those to France jumped 114% to CHF 157.3 million ($190.6 million). Orders to Japan gained 22% to CHF 135.8 million ($164.5 million), and China was up 16% to CHF 133.5 million ($161.7 million). Supply to Hong Kong climbed 1.4% to CHF 117.6 million ($142.5 million).
By value, timepieces improved in three of four categories. Units below CHF 200 ($242) rose 13%, while goods priced between CHF 200 and CHF 500 ($606) advanced 6%. Those worth above CHF 3,000 ($3,635) increased 2.6% and units between CHF 500 and CHF 3,000 slid 0.9%.
Exports for the January-to-August period inched up 1.7% to CHF 17.24 billion ($20.89 billion).
Image: A display of Swiss watches. (Shutterstock)
