The Federation of the Swiss Watch Industry warned a return to growth was unlikely in 2025.
Sales of Swiss timepieces in December fell 5.4 percent year-on-year to 2 billion Swiss francs. Annual exports totaled 25.9 billion Swiss francs, a 2.8 percent drop compared with 2023.
China “continued to perform very poorly,” said the organization, with exports down 19 percent to 151.2 million Swiss francs. It fell to third place on the list of leading markets for Swiss timepieces after Hong Kong, which saw a lesser decline of 6.4 percent in December. Looking at the full-year picture, the number of wristwatches exported was historically low, at 15.3 million, a drop of 9.4 percent year-on-year. For the year as a whole, exports to the U.S. increased 5 percent.
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