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Swiss watch exports in the first half of 2021: a return to 2019 level

The first half of 2021 is still somehow atypical for Swiss watch exports, with highly contrasting situations in the main markets, but the re...

The first half of 2021 is still somehow atypical for Swiss watch exports, with highly contrasting situations in the main markets, but the recovery has begun and it is accelerating, although we are still in a context marked by the pandemic.

Watch exports were valued at 10.6 billion Swiss francs in the first half of 2021. This was comparable (-0.5%) to the result achieved in 2019, which is viewed as the reference year given that the historically poor performance recorded in 2020 cannot be used for comparison. 


The trend seen since the start of the year suggests that there could be a return to the annual levels seen before the crisis in early 2022. This is faster that initially expected and would mean that the sector will have needed slightly more than a year to offset the sharp decline linked to the pandemic in 2020.

Wristwatches accounted for 95% of the value of Swiss watch exports. These were valued at 10.1 billion francs, a change of +0.8% compared with the first half of 2019. Volumes, however, continued to decrease. In six months, the sector exported 7.0 million items, 3.1 million fewer than in January to June 2019 (-30.4%).

The decline in volumes, which affected all groups of materials, was largely due to steel watches (-27.1%) and the Other materials category (-50.1%). Value was supported by the growth in timekeepers made from precious metals (+3.6%).

The slight increase in value was due to the growth (+7.4%) recorded by watches priced at over 3,000 francs (export price), while other segments declined significantly. This price range also saw an increase in the number of items exported (+5.6%), but without any real impact on the total, since the increase only represents just over 45,000 watches. The overall result was impacted by the sharp decline (-38.1%) in items priced at under 500 francs.

Asia exceeded the result achieved in the first half of 2019 by 1.5%, accounting for over half (54%) of Swiss watch exports. Europe saw a significant decline (-8.8%) and represented a quarter (27%) of shipments abroad. Exports to America accounted for 17%, with a very sharp increase in performance (+17.4%) over six months.


Among the main markets, China (+61.9%) and the United States (+22.4%) recorded very steady growth. This was counterbalanced by the marked drop seen in Hong Kong (-24.0%), Japan (-12.4%), South Korea (-22.1%) and most European markets (-8.8%), with the Netherlands (+6.9%) among the few exceptions. 

(Source: Federation of the Swiss watch industry FH)

COMMENTS

Name

A. Lange & Sohne,145,Accutron,1,AkriviA,11,Alain Silberstein,4,alarm,18,Alpina,19,Andersen Geneve,2,Andersmann,2,Andreas Strehler,5,Angelus,6,annual calendar,44,Anonimo,15,Anthony de Haas,2,Antiquorum,4,Antoine Martin,2,Antoine Preziuso,1,Apple,2,Apple Watch,2,Aquadive,2,Aquastar,1,Armin Strom,82,Arnold and Son,27,Artime,1,Astarwatch,1,Atelier de Chronometrie,1,Ateliers deMonaco,2,Atmos,1,Auctions,94,Audemars Piguet,97,Autodromo,1,automaton,2,BA111OD,1,Ball Watch,1,Bamford,2,Baselword 2022,1,Baselworld,8,BaselWorld 2013,50,BaselWorld 2014,53,Baselworld 2015,69,Baselworld 2016,27,Baselworld 2017,64,Baselworld 2018,75,Baselworld 2019,41,Baselworld 2020,2,Baume,4,Baume & Mercier,19,Baume et Mercier,72,Beaubleu,1,Bell & Ross,41,Berneron,1,Bernhard Lederer,5,Bernhard Zwinz,1,bespoke,1,Blancpain,100,blue dial,3,Bonhams,2,Bovet,14,Brands histories,1,Breguet,132,Breitling,74,Bremont,1,Bremont Watch Company,4,Breva,2,bronze,28,Bücherei,1,Bucherer,1,Bulgari,122,Bulova,2,Burberry,1,C3H5N3O9,1,carbon,4,carillon,4,Carl F. Bucherer,4,Carl Suchy,1,Carrera,20,Cartier,49,ceramic,24,Certina,13,Chanel,5,Chaumet,3,chiming hour,15,Chopard,42,Christiaan van der Klaauw,2,Christie's,9,Christophe Claret,5,Christopher Ward,15,chronograph,790,chronometer,42,Chronoswiss,6,Cimier,1,Citizen,6,co-axial,1,column-wheel,9,complete calendar,29,complications,91,concept watch,5,Concord,1,constant-force,39,Corum,18,Credor,2,CSEM,1,Cuervo y Sobrinos,1,Cyrus,37,Czapek,8,Dan Niederer,1,Davosa,1,Daytona,8,De Bethune,30,de Grisogono,3,dead seconds,21,Delma,2,detent escapement,4,DeWitt,9,digital display,1,dive watches,99,diving,8,diving watches,418,double regulator,3,Doxa,40,drei,1,dress watches,542,dual time,108,Ebel,2,Eberhard,35,Edouard Koehn,8,Edox,6,El Primero,43,Emile Chouriet,1,Emmanuel Bouchet,1,Emmanuel Breguet,1,enamel dial,14,enamelling,16,Equation of time,10,ETA,1,Eterna,18,exhibitions,1,F.P.Journe,40,Faberge,2,factory tours,3,Favre-Leuba,1,feature article,93,features,128,Felipe Pikullik,2,Ferdinand Berthoud,8,flyback,64,Fondation de la Haute Horlogerie,1,Formex,1,Fortis,9,Franc Vila Founder,1,Franck Muller,8,Frederic Jouvenot,1,Frederique Constant,22,Furlan Marri,1,FVF,1,Gallet,1,Garrick,1,Geneva Watchmaking Grand Prix,8,Georg Jensen,1,George Daniels,4,Gerald Charles,2,Gerald Genta,13,Girard-Perregaux,48,Glashuette,19,Glashuette Original,96,Glashütte,33,Glashütte Original,129,Glycine,4,GMT,142,GoS,1,GoS Watches,1,GPHG,23,GPHG 2020,3,GPHG 2021,3,GPHG 2022,3,GPHG 2023,3,GPHG 2024,3,GPHG2019,1,Graham,6,Grand Feu,7,Grand Prix d’Horlogerie de Geneve,17,Grand Seiko,36,Grande Complication,28,Grande Sonnerie,9,Greubel Forsey,40,greubelforsey,1,Grøne,1,Gronefeld,10,Grönefeld,8,Grossmann,3,guilloché,8,H. Moser and Cie,51,H20 Watch,1,Habring,10,Habring2,11,Hajime Asaoka,2,Hallmark of Geneva,2,Hamilton,38,hands-on,136,Hanhart,22,Harry Winston,11,Hautlence,6,Hermes,26,Heuer,2,high jewellery,2,high-frequency,5,Hublot,66,Hybris Artistica,1,Hydro Mechanical Horologists,7,HYT Watches,16,Icon,1,In pictures,18,independent watchmaker,39,industry news,245,interview,9,Interviews,9,IWC,176,Jacques Bianchi,1,Jaeger-LeCoultre,130,Jaquet Droz,58,Jean-Francois Mojon,1,Jean-Marc Pontroué,1,JeanRichard,3,jumping hours,38,Junghans,12,Kaj Korpela,1,Kari Voutilainen,11,Kazuo Maeda,1,Kenissi,1,Kollokium,1,Korpela,1,Krayon,4,Kudoke,6,Kurono,2,L.Leroy,1,L'Epee 1839,2,Labails,1,Ladies watches,198,Lang & Heyne,4,Lang 1943,1,Lange,54,large date,3,Laurent Ferrier,26,Laureus,2,Le Garde Temps,1,Lederer Watches,5,Leica,3,Lemania,1,Leroy,4,Linde Werdelin,2,Longines,104,Louis Erard,35,Louis Moinet,8,Louis Vuitton,3,luxury steel watch,31,LVMH,10,LVMH 2020,6,M.A.D.Edition,5,M.A.D.Editions,5,Maîtres du Temps,1,Manufacture Contemporaine du Temps,3,Manufacture Royale,3,Marc Lang,1,marine chronometer,2,Marqueterie,1,Maurice de Mauriac,2,Maurice Lacroix,28,MB&F,73,MCT,1,MeisterSinger,99,meteorite,3,metiers d'art,3,Mickey Mouse,2,Mido,69,military watches,14,Minerva,4,Ming,2,Minute Repeater,62,monopusher chronograph,5,Montblanc,58,moon phases,135,Moritz Grossmann,31,Moser,46,Muhle,6,Mühle-Glashütte,5,mystery watches,4,Nautilus,14,New Britain Corp,1,new watches,3870,Nivada,3,Nomos,82,Norqain,32,Ochs und Junior,6,Officine Panerai,109,Omega,204,Only Watch,15,Only Watch 2015,4,Only Watch 2017,2,Only Watch 2019,3,Only Watch 2021,4,Only Watch 2023,10,Oris,44,paillonne,1,Panerai,112,Parmigiani,17,Parmigiani Fleurier,36,Pascal Coyon,1,Patek,62,Patek Philippe,139,Pedrozo & Piriz,1,perpetual calendar,155,Perrelet,12,Petermann Bedat,3,Phenomen,1,Philippe Dufour,1,Phillips,10,Piaget,41,Pierre DeRoche,2,pilot,1,pilot watch,115,Pininfarina,1,Pisa,17,Pisa 1940,5,Pisa Circle,13,Pita,1,planetarium,3,platinum,8,pocket watch,4,pocket watches,2,Poehlmann-Bresan,2,Poincon de Geneve,2,Porsche Design,17,Pre-SIHH 2016: Cartier - Clé de Cartier Automatic Skeleton,1,pulsometer,5,Purnell,1,quartz,11,Rado,20,Ralf Tech,3,Ralph Lauren,2,rattrapante,26,Raul Pages,2,Raymond Weil,5,rectangular watches,16,reddot award,1,regatta,3,regulator,31,remontoire,5,Remy Cools,1,Renaud Tixier,1,Reservoir,2,resonance,22,Ressence,13,retrograde,10,Revelation,1,Reverso,27,review,138,RGM,1,RGM Watch Co.,1,Richard Mille,119,Richemont,4,Richmond,1,Roger Dubuis,12,Roger Smith,1,Roger W. Smith,1,Rolex,72,Romain Gauthier,13,Romain Jerome,1,Royal Oak,40,Rudis Sylva,1,sapphire,4,Schwarz Etienne,1,Seamaster,11,Seiko,41,SevenFriday,26,SIHH,3,SIHH 2012,4,SIHH 2013,25,SIHH 2014,36,SIHH 2015,43,SIHH 2016,44,SIHH 2017,41,SIHH 2018,43,SIHH 2019,53,Simon Brette,2,Singer,7,Singer Reimagined,11,single hand,33,single-hand watches,40,Sinn,16,skeleton,36,smartwatch,9,solar energy,1,Sotheby's,8,Speake Marin,6,Speake-Marin,6,Speedmaster,38,split seconds,27,sport,1,sport watches,1005,sportwatches,1,Spring Drive,3,square watches,4,squelette,61,steampunk,1,Steinhart,1,Strehler,1,striking time,16,SuisseMecanica,1,sunrise,2,sunset,2,Swatch,9,Swatch Group,24,Sylvain Pinaud,2,table clocks,4,Tag Heuer,187,tantalum,1,technical insight,3,terra Cielo Mare,1,Theo Auffret,1,tides,1,Tiffany,17,Tissot,10,titanium,12,top news,462,Torsti Laine,1,tourbillon,387,Trilobe,4,Tudor,40,Tulloch,1,Tutima,3,ultra thin,36,Ulysse Nardin,40,Unimatic,1,Union Glashutte,15,Universal Genève,1,Urban Jurgensen,29,Urwerk,22,Vacheron Constantin,83,Van Cleef & Arpels,7,Vauchier Fleurier,1,Vianney Halter,6,video,1,vintage watches,3,Vulcain,11,wandering hours,1,watches,1,Watches & Wonders,42,Watches & Wonders 2020,19,Watches & Wonders 2021,28,Watches & Wonders 2022,35,Watches & Wonders 2023,38,Watches & Wonders 2024,47,Watches & Wonders 2025,2,Watches&Wonders,10,WatchesandWonders2022,35,WatchesandWonders2023,39,WatchesandWonders2024,48,WatchesandWonders2025,2,Wilhelm Schmid,1,Winnerl,1,worldtime,61,YEMA,5,Zannetti,1,Zeitwerk,2,Zeitwinkel,1,Zenith,115,Zodiac,9,
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Time and Watches | The watch blog: Swiss watch exports in the first half of 2021: a return to 2019 level
Swiss watch exports in the first half of 2021: a return to 2019 level
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