The Federation of the Swiss Watch Industry (FHS) has just released its November 2021 figures, and this confirms that the top watch companies are on their way back. Mechanical exports to Switzerland grew by 8.6% in November 2021, at 2.2 billion CHF, a monthly result since recorded in October 2014. Most importantly, in the first 11 months of 2021, at CHF 20.4 billion, exports were 33.4% beyond 2020 and 2.1% over 2019, indicating that the market is on track to recover from the epidemic.
Looking at what is happening with the region, USA and China, the two largest viewing markets, are well underway for growth. USA has returned to first place with $ 2.8 billion in the first 11 months of the year (+55.7% versus 2020; + 26.4% versus 2019). Of the 2.7 billion CHF, China is benefiting from the recurrence of high inflation and curb global travel (+ 31.0% versus 2020; + 53.5% versus 2019). Although many countries are on their way to recovery, those most affected are those who rely on tourists, especially in Europe and Hong Kong.
Clocks exported by 2021 are expected to reach approximately CHF 22 billion by 2021, close to their 2014 record (CHF 22.3 billion). However, many doubts and difficulties remain, especially with Omicron making its shadow.
For more information, please visit www.fhs.swiss.
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