Swiss Watch Sales Highest in Almost Eight Years
August 28, 22
(IDEX Online) - Exports of Swiss watches hit their highest monthly total in almost eight years, amid "very positive" sales.
Total foreign sales for July were $2.31bn, up 8.3 per cent on the same month in 2021, according to the the Federation of the Swiss Watch Industry. It's the highest monthly result since October 2014.
Much of the growth was driven by watches priced for export at over $520, which account for over a third of volumes and almost 95 per cent off export turnover. Both the value and number of items sold were both by almost 11 per cent.
Sales of cheaper watches - $210 to $520 - fell over 29 per cent by value, continuing a significant downward trend that has persisted almost uninterrupted since early 2020.
Singapore was the country that saw the biggest growth by value (29 per cent), followed by China (18 per cent) and USA (13 per cent).