Yahoo Autos Swiss Watch Exports Increase 12.2 Percent in February
PARIS — Swiss watch exports rose 12.2 percent in February, bolstered by business in all main geographic markets and each timepiece material, the Federation of the Swiss Watch Industry said on Tuesday.
Swiss watch sales abroad generated 2.24 billion Swiss francs, or $2.31 billion, in the month. Compared to January, the sales were up 8.6 percent.
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By units, Swiss timepiece exports increased 6.2 percent, by 75,000 units, in February.
“Compared to pre-crisis levels, exported wristwatch units were 26 percent below February 2019, whilst the value of exports was 30 percent above,” Luca Solca, senior research analyst, global luxury goods at Bernstein, said in a research note.
“All the various materials made a significant contribution to February’s performance,” the FHS said.
It noted the spectacular growth in the other materials category, which was up 62.6 percent, or five times more than the average, due to a 71.6 percent surge in volumes.
Conversely, export sales of steel watches were down 6.1 percent, and those of bimetallic watches declined 15.6 percent. Both categories had a reduction in number of units sold.
“Regarding pricing, export value increased by 6 percent, supported once again by the lowest (0-200 Swiss francs) and high-priced watches (500-3,000 Swiss francs and above 3,000 Swiss francs),” Solca wrote.
