In 2023, Swiss watch exports hit a record high of 26.7bn Swiss francs, driven by increased shipments of cheaper quartz watches and higher-priced watches, although growth slowed from 11.

Swiss watch exports hit record levels in 2023 as watchmakers raised prices and shipments of cheaper quartz watches increased. However, the growth pace slowed down in the second half of the year, with sales growth dropping from 11.8% in the first half to 3.6%. Watch buyers are reining in spending due to economic and geopolitical concerns, while the strong Swiss franc is putting pressure on producers. Despite the slowdown, Swiss watch exports reached 26.7 billion Swiss francs ($30.9 billion), with the highest growth coming from shipments of quartz watches and watches with a lower price point.

January 30, 2024
8 Articles

Further Reading