Solid growth, an unprecedented level and favorable prospects: the Swiss watch industry is rubbing its hands. Swiss watch exports ended 2022 with growth of 11.4% to 24.8 billion francs. This is a new record. The branch thus erased the previous mark which dated from the previous year, despite a slight slowdown in December. The FH, the Federation of the Swiss Watch Industry, released its figures on Tuesday. She points out that Swiss watches have benefited from the strong demand for luxury goods, in particular. However, entry-level products were also very successful and ended 2022 with a positive result. The unfavorable economic context thus had little influence on the course of business, except for China due to the health crisis. The Chinese market plunged by more than 13% in 2022 and fell behind the United States, which took the lead with one of the strongest increases: +26.3%. However, the Asian continent posted a positive overall result with +4.4%. As for Europe, it experienced an increase of 15.8%.
For the current year, the FH believes that 2023 should continue to be synonymous with growth. The growth rate should however be lower than in 2022 but still significant. /comm-fco
