swıss watch exports clock hıghest annual result

Global shipments increased 2.7% in 2021 versus two years earlier to CHF 22.3 billion ($24.24 billion) and were up 0.2% over the previous record, which was set in 2014, the Federation of the Swiss Watch Industry said Thursday. Annual exports jumped 31% from 2020.

“The return to pre-crisis levels during September, and positive performance in the fourth quarter, produced the best-ever annual results for the sector,” the federation noted.

In December, global shipments climbed 9% compared to the same month in 2019, reaching CHF 1.91 billion ($2.08 billion), and increased 11% year on year.

Supply to the US surged 44% from December 2019 to CHF 276.6 million ($300.6 million), with the country maintaining its place as the leading market for Swiss watches in every month of 2021, the federation explained. China saw a 9% increase to CHF 230.5 million ($250.5 million). Exports to the UK jumped 14%, while those to the UAE rose 8%, and orders to Singapore were up 7%.

That growth outweighed a 16% downturn in Hong Kong, which “fell significantly for the third year running,” the federation noted. Japan, Germany, France, Italy, and South Korea also recorded dips. The decreases indicate “a level of ongoing instability in the market across Asia, Europe and America, with growth driven by just a small number of countries,” the federation added.