
Switzerland - Watches - Market Analysis, Forecast, Size, Trends and Insights
Update: COVID-19 Impact
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China Emerges as Fastest-Growing Importer of Swiss Watches Over Past Decade
IndexBox has just published a new report: 'Switzerland - Watches - Market Analysis, Forecast, Size, Trends and Insights'. Here is a summary of the report's key findings.
China ($2.5B) emerges as the largest and fastest-growing importer of Swiss watches, ramping up its purchases by +9.1% per year on average over the past decade. Despite the Covid crisis, it increased imports by 31%, while the rest of Switzerland's trade partners decreased supplies. The U.S. ($2B) and Hong Kong SAR ($1.7B) followed China in the top importer ranking.
Switzerland's Watch Exports
Watch exports shrank markedly from $20.6B to $17.2B (IndexBox estimates) in 2020. The total export value increased at an average annual rate of +1.7% over the past decade.
China ($2.5B), the U.S. ($2B) and Hong Kong SAR ($1.7B) were the largest markets for watches exported from Switzerland, with a combined 36% share of total exports. Japan, the UK, Germany, the United Arab Emirates, Italy, South Korea, France, Spain, the Netherlands and Russia lagged somewhat behind, together accounting for a further 37%.
China (+9.1% per year) became the fastest-growing importer of watches among Switzerland's ten largest trade partners in the last decade. In 2020, China significantly ramped up its Swiss watch purchases from $1.9B to $2.5B, while most other countries reduced their imports.
Top Watch Importers Worldwide
Hong Kong SAR ($5.1B), the U.S. ($3.7B) and China ($3.5B) constituted the countries with the highest levels of watch purchases in 2020, with a combined 40% share of global imports (this includes not only Swiss watches but refers to the total figures).
China (+32.5%) saw the highest growth rate of the value of imports over the last year, while purchases for the other global leaders experienced a decline in the imports figures.
Source: IndexBox Platform
This report provides an in-depth analysis of the watch market in Switzerland. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Making Data-Driven Decisions to Grow Your Business
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Understanding the Current State of The Market and Its Prospects
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The Latest Trends and Insights into The Industry
The Largest Import Supplying Countries
The Largest Destinations for Exports
The Largest Producers on The Market and Their Profiles
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