Swiss Watches Exports to China Plummet in April

by swisschambei in Business

On May 31, the Swiss watch-makers association announced that the country’s watches exports to China plummeted in April, owing to the Chinese government’s zero-Covid policy, which has slowed down growth in the hitherto booming sector.In April, exports to China, one of the largest markets for Swiss watch manufacturers, fell by 57.8%, according to the association’s figures. Swiss watches exports continued instead to grow at a healthy rate in the USA, where they increased by 37% in April, having posted a 31.8% rise the previous month. They were up by 18.2% in Japan and by 29.7% in Singapore, and continued to grow in Europe, where they recorded a 16% rise. A positive trend that is well-established in the major markets that were hit hard by the absence of tourists during the pandemic, as exports increased by 21.2% in the UK, 48.6% in France and 25.5% in Italy. Despite the “Chinese market’s slowdown,” the association said in a press release, “global growth remains sustained.” In April, the value of Swiss watch exports worldwide was CHF1.9 billion (€1.8 billion), equivalent to a 7.3% increase over April last year. A result that was however weaker than the 24% growth recorded in February, and the 11.8% one recorded in March.

Leave a Reply

Your email address will not be published.

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

Your Swiss Business Platform in China

SwissCham China has roughly 600 company members. Our Chamber maintains a strong relationship with the Embassy of Switzerland, Switzerland Global Enterprise, Swissnex and Switzerland Tourism. As the representative of the Swiss companies established in China, our goal is to help you to increase your business and visibility, especially amongst the Sino-Swiss business community.

Become A Member

Sign Up For Our Newsletter

  • This field is for validation purposes and should be left unchanged.
July 17, 2023
Published By in Business
July 16, 2023
Published By in Engineering / Manufacturing
July 13, 2023
Published By Consulate General of Switzerland in Guangzhou in Engineering / Manufacturing
July 3, 2023
Published By in Bilateral Relations