Swiss Watch Exports Jump to Record High on US and Qatari Demand But China Slumps

Americans snap up pricey timepieces, lifting exports by 33%
Retailers in Qatar stocked up ahead of the football World Cup

Demand for luxury watches has risen to unprecedented value levels.
Photographer: Alain Costa/Rolex

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By Andy Hoffman

December 20, 2022 at 7:55 AM UTC

Swiss watch exports jumped to a record high in November as Americans snapping up pricey timepieces outweighed slumping demand from China.

Shipments rose 10.9% to a monthly record of 2.4 billion francs ($2.6 billion) last month, the Federation of the Swiss Watch Industry said Thursday. Exports totaled 22.9 billion francs from January to November, an 11.9% rise and on track for the industry’s best year ever.