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Swiss watch exports in the first half of 2022: strong global demand

Swiss watch exports in the first half of 2022: strong global demand
Swiss watches enjoyed strong global demand in the first half of this year. Watch exports increased in most markets with the notable exception of China and Hong Kong.


Swiss watch exports between January and June 2022 amounted to 11.9 billion francs, representing a growth of 11.9% compared to the first semester 2021. While 70% of this increase stems from mechanical watches made of precious metals or steel, the other categories also contributed to the overall upward trend.

The corresponding number of parts also rose to 7.2 million units (+3.2%). This means that an additional 225,000 watches crossed Swiss borders between January and June. Notwithstanding this welcome growth, the industry is at an all-time low in terms of volume, attaining less than half of the figures recorded ten years ago.

Mechanical timepieces have enjoyed a significant upturn, despite a drop in volume (-3.3%). Quartz watches recorded an even more notable upward trend, which led to an overall rise in volume thanks to an increase of 8.2%.

Watches priced at over 3,000 Swiss francs (export price) accounted for most of the growth in terms of value (+15.5%). The 500-3,000 Swiss francs category (+6.0%) also contributed to this growth, while the 200-500 Swiss francs category (-19.1%) suffered a sharp drop.


Among the main markets, the United States (+31.4%), the United Kingdom (+31.8%), France (+36.5%) and Spain (+41.8%) recorded very steady growth. The decline in China and Honk Kong was mainly due the fact that many retail stores were closed and products could not be delivered from the central warehouses for the lockdown in the months of April and May.

Forecasts for the Swiss watch industry in 2022 remain optimistic, despite a less favourable outlook overall and a higher degree of uncertainty. Watches will continue to benefit from a sustained demand and the appeal of the luxury market. However, the sector’s turnover might be impacted by several obstacles such as difficulties in the supply of raw materials and investments, the rising cost of energy and transportation, the lack of manpower and the strength of the Swiss franc.

(Source: Federation of the Swiss watch industry FH)

COMMENTS

Name

A. Lange & Sohne,122,AkriviA,9,Alain Silberstein,2,alarm,13,Alpina,13,Andersen Geneve,2,Andersmann,2,Andreas Strehler,5,Angelus,5,annual calendar,39,Anonimo,15,Anthony de Haas,1,Antiquorum,2,Antoine Martin,2,Antoine Preziuso,1,Apple,2,Apple Watch,2,Aquadive,2,Aquastar,1,Armin Strom,64,Arnold and Son,23,Astarwatch,1,Atelier de Chronometrie,1,Ateliers deMonaco,2,Atmos,1,Auctions,76,Audemars Piguet,73,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 et Mercier,51,Bell & Ross,35,Bernard Lederer Universe,1,Bernhard Lederer,2,Bernhard Zwinz,1,bespoke,1,Blancpain,78,BLU,1,blue dial,3,Bonhams,2,Bovet,11,Brands histories,1,Breguet,106,Breitling,63,Bremont,1,Bremont Watch Company,4,Breva,2,bronze,25,Bücherei,1,Bulgari,95,Bulova,1,Burberry,1,C3H5N3O9,1,carbon,2,carillon,3,Carl F. Bucherer,3,Carl Suchy,1,Carrera,10,Cartier,44,ceramic,12,Certina,8,Chanel,4,Chaumet,3,chiming hour,10,Chopard,36,Christie's,7,Christophe Claret,5,Christopher Ward,10,chronograph,607,chronometer,35,Chronoswiss,5,Citizen,3,co-axial,1,column-wheel,7,complete calendar,21,complications,83,concept watch,5,Concord,1,constant-force,39,Corum,18,Credor,1,CSEM,1,Cyrus,25,Czapek,6,Dan Niederer,1,Davosa,1,Daytona,5,De Bethune,25,de Grisogono,3,dead seconds,20,detent escapement,2,DeWitt,9,digital display,1,dive watches,16,diving,8,diving watches,329,double regulator,3,Doxa,24,drei,1,dress watches,449,dual time,93,Ebel,1,Eberhard,33,Edouard Koehn,2,Edox,5,El Primero,37,Emile Chouriet,1,Emmanuel Bouchet,1,Emmanuel Breguet,1,enamel dial,10,enamelling,15,Equation of time,9,ETA,1,Eterna,18,exhibitions,1,F.P.Journe,35,Faberge,2,factory tours,3,Favre-Leuba,1,feature article,67,features,104,Ferdinand Berthoud,7,flyback,51,Fondation de la Haute Horlogerie,1,Fortis,8,Franc Vila Founder,1,Franck Muller,7,Frederic Jouvenot,1,Frederique Constant,14,Furlan Marri,1,FVF,1,Gallet,1,Geneva Watchmaking Grand Prix,8,Georg Jensen,1,George Daniels,4,Gerald Charles,2,Gerald Genta,10,Girard-Perregaux,44,Glashuette,18,Glashuette Original,71,Glashütte,32,Glashütte Original,104,Glycine,4,GMT,105,GoS,1,GoS Watches,1,GPHG,17,GPHG 2020,3,GPHG 2021,3,GPHG 2022,3,GPHG2019,1,Graham,6,Grand Feu,5,Grand Prix d’Horlogerie de Geneve,15,Grand Seiko,24,Grande Complication,26,Grande Sonnerie,7,Greubel Forsey,36,greubelforsey,1,Gronefeld,10,Grönefeld,8,Grossmann,3,guilloché,6,H. Moser and Cie,43,H20 Watch,1,Habring,9,Habring2,10,Hajime Asaoka,2,Hallmark of Geneva,2,Hamilton,31,hands-on,94,Hanhart,9,Harry Winston,11,Hautlence,6,Hermes,25,Heuer,2,high jewellery,1,Hublot,40,Hybris Artistica,1,Hydro Mechanical Horologists,7,HYT Watches,15,Icon,1,In pictures,11,independent watchmaker,18,industry news,207,interview,6,Interviews,6,IWC,142,Jaeger-LeCoultre,114,Jaquet Droz,58,Jean-Francois Mojon,1,Jean-Marc Pontroué,1,JeanRichard,3,jumping hours,34,Junghans,9,Kaj Korpela,1,Kari Voutilainen,9,Kenissi,1,Korpela,1,Krayon,4,Kudoke,4,Kurono,2,L'Epee 1839,1,Ladies watches,166,Lang & Heyne,3,Lange,44,large date,2,Laurent Ferrier,23,Laureus,2,Le Garde Temps,1,Lederer Watches,2,Leica,2,Lemania,1,Leroy,3,Linde Werdelin,2,Longines,75,Louis Erard,16,Louis Moinet,7,luxury steel watch,19,LVMH,9,LVMH 2020,6,M.A.D.Edition,2,M.A.D.Editions,2,Maîtres du Temps,1,Manufacture Contemporaine du Temps,3,Manufacture Royale,3,Marc Lang,1,marine chronometer,1,Maurice de Mauriac,2,Maurice Lacroix,16,MB&F,55,MCT,1,MeisterSinger,72,meteorite,2,metiers d'art,1,Mickey Mouse,2,Mido,40,military watches,14,Minerva,2,Ming,1,Minute Repeater,56,monopusher chronograph,4,Montblanc,55,moon phases,111,Moritz Grossmann,30,Moser,38,Muhle,5,Mühle-Glashütte,4,mystery watches,4,Nautilus,11,New Britain Corp,1,new watches,3118,Nomos,59,Norqain,30,Ochs und Junior,5,Officine Panerai,94,Omega,166,Only Watch,9,Only Watch 2015,4,Only Watch 2017,2,Only Watch 2019,3,Only Watch 2021,4,Oris,38,paillonne,1,Panerai,97,Parmigiani,11,Parmigiani Fleurier,29,Pascal Coyon,1,Patek,49,Patek Philippe,124,Pedrozo & Piriz,1,perpetual calendar,130,Perrelet,10,Petermann Bedat,2,Phenomen,1,Philippe Dufour,1,Phillips,8,Piaget,24,Pierre DeRoche,2,pilot watch,93,Pisa,8,Pisa Circle,8,Pita,1,planetarium,1,platinum,5,pocket watch,3,pocket watches,2,Poincon de Geneve,2,Porsche Design,17,Pre-SIHH 2016: Cartier - Clé de Cartier Automatic Skeleton,1,pulsometer,5,Purnell,1,quartz,8,Rado,17,Ralf Tech,3,Ralph Lauren,2,rattrapante,19,Raul Pages,1,Raymond Weil,1,rectangular watches,13,reddot award,1,regatta,1,regulator,21,remontoire,5,Remy Cools,1,Reservoir,2,resonance,18,Ressence,10,retrograde,9,Revelation,1,Reverso,22,review,94,RGM,1,RGM Watch Co.,1,Richard Mille,98,Richemont,4,Richmond,1,Roger Dubuis,11,Roger Smith,1,Roger W. Smith,1,Rolex,58,Romain Gauthier,11,Romain Jerome,1,Royal Oak,30,Rudis Sylva,1,sapphire,3,Seamaster,5,Seiko,31,SevenFriday,18,SIHH,3,SIHH 2012,4,SIHH 2013,25,SIHH 2014,36,SIHH 2015,43,SIHH 2016,44,SIHH 2017,40,SIHH 2018,43,SIHH 2019,53,Singer,5,Singer Reimagined,8,single hand,20,single-hand watches,23,Sinn,14,skeleton,27,smartwatch,9,solar energy,1,Sotheby's,5,Speake-Marin,4,Speedmaster,31,split seconds,15,sport,1,sport watches,801,Spring Drive,2,square watches,2,squelette,48,steampunk,1,Steinhart,1,striking time,16,SuisseMecanica,1,sunrise,2,sunset,2,Swatch,5,Swatch Group,18,Sylvain Pinaud,1,table clocks,4,Tag Heuer,148,technical insight,3,terra Cielo Mare,1,Theo Auffret,1,Tiffany,17,Tissot,6,titanium,5,top news,290,Torsti Laine,1,tourbillon,320,Trilobe,3,Tudor,31,Tulloch,1,Tutima,3,ultra thin,30,Ulysse Nardin,36,Unimatic,1,Union Glashutte,11,Urban Jurgensen,29,Urwerk,21,Vacheron Constantin,78,Van Cleef & Arpels,7,Vauchier Fleurier,1,Vianney Halter,5,video,1,vintage watches,3,Vulcain,10,wandering hours,1,watches,1,Watches & Wonders,39,Watches & Wonders 2020,19,Watches & Wonders 2021,28,Watches & Wonders 2022,34,Watches & Wonders 2023,1,Watches&Wonders,4,WatchesandWonders2022,35,WatchesandWonders2023,1,Winnerl,1,worldtime,49,Zannetti,1,Zeitwerk,2,Zeitwinkel,1,Zenith,100,Zodiac,9,
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Time and Watches | The watch blog: Swiss watch exports in the first half of 2022: strong global demand
Swiss watch exports in the first half of 2022: strong global demand
Swiss watch exports in the first half of 2022: strong global demand
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