The Federation of the Swiss Watch Trade (FHS) has simply launched its export statistics for the month of November 2021, and these affirm that the posh watch business is clearly on the highway to restoration. Swiss watch exports grew by 8.6% in November 2021, at CHF 2.2 billion, the best month-to-month outcome because the file set in October 2014. Extra considerably, over the primary 11 months of 2021, at CHF 20.4 billion, exports had been 33.4% larger than 2020 and a couple of.1% larger than 2019, displaying that the market is on its option to recovering from the pandemic.
Looking on the development by area, the USA and China, the 2 largest watch markets, are clearly driving the expansion. The USA are again on the first place with imports of CHF 2.8 billion over the primary 11 months of the yr (+55.7% versus 2020; +26.4% versus 2019). At CHF 2.7 billion, mainland China advantages from the reshoring of luxurious spending with the ban on worldwide journey (+31.0% versus 2020; +53.5% versus 2019). Whereas most international locations are on the trail to restoration, probably the most affected are these relying on vacationers, specifically Europe and Hong Kong.
The 2021 watch exports ought to attain about CHF 22 billion for 2021, near their 2014 file stage (CHF 22.3 billion). Nonetheless, many uncertainties and challenges stay, specifically with Omicron casting its shadow.
For extra info, please go to www.fhs.swiss.