By Andrea Figueras


Swiss watch exports rose in 2023 and in December on year, but results showed a continued normalization of growth trends in the second half of the year, according to data published on Tuesday by the Federation of the Swiss Watch Industry.

Total exports in December reached 2.14 billion Swiss francs ($2.48 billion) up 5.5% on year, but down from CHF2.5 billion in November. For 2023 as a whole, exports rose 7.6% to CHF26.7 billion compared with 2022.

Bimetallic watches reported a particularly strong performance in December, rising 22% in value and increasing 28.5% in volume, it said.

Exports to the U.S. market performed better than expected, increasing 12% in December, while those to China showed modest growth of 1.7%, the industry body said.

Exports to Hong Kong and Japan rose by 15% and 27%, respectively.

The sharpest drop was reported in the U.K., with a 12% decrease in exports, while those to Germany fell 2.3%, it said.

Both extremes of the price spectrum reported an increase in exports, while those priced between CHF200 and CHF3,000 decreased, the industry body said.

Exports of wristwatches with a value of more than CHF3,000 saw growth of 9.2%, while those under CHF200 jumped 13%

Performance of pieces between CHF200 and CFH500 fell 11% and those in a range of CHF500 and CHF3,000 declined by 8.7%.


Write to Andrea Figueras at andrea.figueras@wsj.com


(END) Dow Jones Newswires

01-30-24 0548ET