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Swiss watch exports in the first half of 2024

Swiss watch exports experiences a marked decline in the first half of 2024, mainly due to the situation in China and Hong Kong.
Swiss watch exports experiences a marked decline in the first half of 2024, mainly due to the situation in China and Hong Kong.

Swiss watch exports in the first half of 2024

In fact, China, which is facing a crisis in the property sector, a high youth unemployment rate, a lacklustre economy and a deterioration in the climate of trust, saw a marked decline (-21.6%), which also affected Hong Kong (-19.9%). 

On the other hand, the rest of the world showed a slightly positive result (+1.0%), confirming the high-level consolidation initially expected for the sector this year.

Swiss watch exports amounted to 12.3 billion francs during the first half, i.e. 3.2% lower than 2023. Volumes were lower by 810,000 items compared with January to June 2023, at 7.7 million watches (-9.9%). The result by value was driven down by steel watches (-10.8%), while those made from precious metals grew (+2.0%).

The drop in value was almost exclusively due to the 500-3,000 francs (export price) segment, which represents only 15% of export turnover, but which fell by 19.0%. Watches priced at less than 500 francs fell by 7.0%, while products costing over 3,000 francs performed slightly better than last year (+0.7%).

Asia (-7.0%) accounted for a significant proportion of the overall decline, while the fall in Europe was limited to 1.1% on average. America, driven by the United States, achieved growth of 3.8%.

The US (+3.6%) strengthened its position as the leading market for Swiss watch exports, posting significant growth, despite an already high basis for comparison.

Despite the declines in China and Hong Kong, the other main Asian markets produced results that were either positive (Japan +7.7%, South Korea +12.1% and Taiwan +7.3%) or stable (Singapore +0.5% and the United Arab Emirates +0.7%).

In Europe, the United Kingdom (-1.4%) set the tone. France’s performance improved, undoubtedly benefiting from the positive effect of the Olympic Games (+3.8%). Conversely, Germany (-5.1%), Italy (-6.1%) and Spain (-3.5%) all lost ground.

The polarized situation of Swiss watch exports looks set to continue until the end of the year, with significant differences between actors in the sector, markets, and price segments remaining considerable.

(Source: Federation of the Swiss watch industry FH)

COMMENTS

Name

A. Lange & Sohne,146,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,101,blue dial,3,Bonhams,2,Bovet,14,Brands histories,1,Breguet,133,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,791,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,9,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,97,Glashütte,33,Glashütte Original,130,Glycine,4,GMT,143,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,36,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,74,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,3872,Nivada,3,Nomos,82,Norqain,32,Ochs und Junior,6,Officine Panerai,110,Omega,205,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,113,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,42,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,120,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,1007,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,188,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,116,Zodiac,9,
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Time and Watches | The watch blog: Swiss watch exports in the first half of 2024
Swiss watch exports in the first half of 2024
Swiss watch exports experiences a marked decline in the first half of 2024, mainly due to the situation in China and Hong Kong.
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Time and Watches | The watch blog
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