Demand in China for Swiss watch imports is recovering as Covid-19 lockdowns ease. China is now the second-biggest market for Swiss watch exports after the USA.
The export figures were “much better than expected”, said a market analyst.
Watches priced more than 500 francs account for more than a third of export volumes and 95 per cent of export value.
Exports of cheaper watches plunged by 29.2 per cent in value, continuing a downturn that began in early 2020.