Swiss Watch Exports Hit Record as U.S. Becomes Top Market
- Shipments to U.S. surged 55% in 2021 from year before
- U.S. dethrones China as top Swiss watch export destination
Swiss watch shipments rose 31% in 2021.
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Swiss watch exports had a record year amid booming demand in the U.S., which overtook China to become the industry’s top market for the first time in more than a decade.
Shipments rose 31% to 22.3 billion francs ($24.1 billion) last year, the Federation of the Swiss Watch Industry said Thursday. The industry has recovered from a 22% decline in 2020, a drop that was on par with the 2009 financial crisis.