Exports of Swiss watches rose 7.6 per cent in July compared with pre-Covid 2019, driven largely by a “very strong performance” in China, data from the Federation of the Swiss Watch Industry showed. 

China saw a 75 per cent increase in watch exports, followed by the US market, which also exhibited solid growth at 48.5 per cent from 2019. In value terms, the US was the top performer in July, demonstrating continuing market recovery, buoyed by domestic consumption. 

Shipments in other Asian markets meanwhile declined: Hong Kong (24.8 per cent), Japan (4.1 per cent) and Singapore (3.4 per cent). The federation recorded a 12.4 per cent rise in watch exports to the UK, 10.2 per cent to France and 5 per cent to Germany while Italy declined by 24.2 per cent.

Robust demand for watches in precious metals was recorded, the group said. Modest growth was seen for watches belonging to the CHF500 (around US$547) to CHF3,000 (around US$3,280) range while watches priced at over CHF3,000 (around US$3,280) saw their export value increase by 13.6 per cent.