According to figures released by the Federation of the Swiss Watch Industry and quoted by IDEX Online, exports of Swiss watches in July totaled $2.31 billion – up 8.3% year-on-year and the highest monthly figure since October 2014.
The growth in sales was mainly driven by watches priced for export at over $520, “which account for over a third of volumes and almost 95% off export turnover.” The value and number of items sold were both up by 11%. However, sales of cheaper watches ($210 to $520) fell by 29% by value, “continuing a significant downward trend that has persisted almost uninterrupted since early 2020.”
The fastest growing sales were noted in Singapore, which saw the biggest growth by value (29%), followed by China (18%) and the US (13%).
