The United States (+13.5%) remains at the top of the podium for sending destinations. They “confirmed the slowdown in growth that began in June, while maintaining a very sustained momentum,” notes the Federation of the Watch Industry (FH).
Swiss watch exports accelerated in July, reaching 2.2 billion francs, the highest monthly level since the record high of October 2014.
Shipments of Swiss watches abroad grew last month by 8.3% compared to July 2021, the Federation of the Watch Industry (FH) said on Thursday. From January to July, shipments totaled 14.1 billion francs, an increase of 11.4% over one year and two-thirds compared to 2020.
The United States (+13.5%) remained at the top of the podium for sending destinations in July. They “confirmed the slowdown in growth that began in June, while maintaining a very sustained momentum”, notes the FH.
Following the lifting of the main anti-Covid measures, China (+18.4%) returned to growth, after a slow second quarter (-43.3%). In third position, Hong Kong (-11.9%) suffered again.
Illustrating the contrasts that remain on the Asian markets, Singapore (+29.1%) recorded a sharp rise, while Japan (-1.4%) suffered a slowdown.
In Europe, growth reached 8.0% over one year. The main markets posted above-average growth, such as the United Kingdom (+11.8%), France (+11.5%), Germany (+12.6%) and Italy (+31.3%).
Steel watches (+9.5%) provided the largest contribution to growth, totaling 845 million francs. Volumes fell over one year by 2.7%.
Watches costing more than 500 francs (export price), which account for more than a third of volumes and nearly 95% of export turnover, recorded uniform growth, gaining 10.8% in value and 10.7% in number of parts.
In the price category above 3000 francs, the increases reach 12% in number of pieces and 11% in value.
On the Stock Exchange, the registered Richemont was coated by 0.7% to 112.85 francs and the bearer Swatch by 1.2% to 240.80 francs, outperforming the SMI of the star stocks, up 0.35% .