Swiss watch exports surge 25% in February as US drives demand

Swiss watch exports jumped 25% in February as U.S. buyers kept driving a post-pandemic rebound in demand for pricey timepieces.

The U.S. remained the top market with a 15% share while China accounted for almost 12% of the nearly 2 billion francs ($2.1 billion) in total monthly exports, the Federation of the Swiss Watch Industry said Thursday.

American consumers who saved cash during pandemic lockdowns have been the engine of the market recovery. The U.S. overtook China as the largest destination for Swiss timepieces in 2021 for the first year in more than a decade.

Exports to the U.S. climbed 33% in February.

Shipments of watches costing more than 3,000 francs continued to drive the bulk of sales, increasing in value by 28%. Watches priced at between 500 francs and 3,000 francs rose 16%, while those worth less than 500 francs rose by 4.8%, the trade group said.