exports in 2021 can be seen earlier than expected. Difficulties remain in many other markets, with some in severe distress, a result of continued strong recovery in China and underpinned by significant growth in the U.S. market.
Back in September, it returned to pre-pandemic levels and performed well in the fourth quarter, with exports of clock mach totaling CHF 22.3 billion. plus 2.7 percent over 2019 ( plus 31.2 percent over 2020), its annual growth rate is a record high and 0.2 percent higher than the 2014 record. The world epidemic continues to spread this year, but it has little impact on the clock mach, mainly in China and the United States, has increased significantly. It can be said that we benefit from the business opportunities created by digitalization, especially in the field of experiential luxury goods including tourism. Although the retail industry, like the tourism industry, has not recovered, due to the shift of purchase locations to domestic and digital channels, Hainan duty-free shops are fully operational, making up some of the losses.
However, behind the good results in 2021, the reality is that the luxury industry - the various related industries in the clock machCC
is expected to continue to grow in 2022, despite continued epidemic difficulties in major markets, macro
The economic situation is not very optimistic. However, the highs recorded last year (which China has reached in 2020),There may be several disadvantages to the base effect. And so on and the uncertainty is still high, so the mechanical
C amounted to CHF 21.2 billion, an increase of 3.5 percent over 2019. On the other hand, the export volume of clock mach The trend toward less continued, ending at 15.7 million. 4.9 million (-23.8 percent ) fewer than in 2019.
below 500 Swiss francs has dropped sharply. This category accounted for 95 percent of the total decline,The export value of clock mach also shrank by -25.1 percent . At the price of CHF 500-3000, the export value of clock mach was reduced by -3.5 percent . Categories above CHF 3,000 saw an increase of 9.7 percent .
The material groups that saw a particularly sharp reduction in numbers were stainless steel tables (-21.4 percent ) and other material tables (less37.4 percent ). On the other hand, the value of exports of clock mach was increased by precious metal watches and stainless steel watches ( plus 7.8 percent and plus 2.9 percent respectively)support results.
Among the major regions, the United States is strong, with the highest growth rate in the American market ( plus 21.7 percent over 2019), and clock mach accounts for 17 percent of exports. In Asia, China's strong growth in clock mach was offset by a sharp decline in other markets, up 1.0 percent , with Asia accounting for 52 percent . Overall European exports of decreased (-34 percent ) to 29 percent .
The United States ( plus 27.8 percent ), with significant growth throughout the year, has regained its position as the largest export destination market for clock mach. China, which is growing steadily, is in second place with a slight difference. These two markets alone accounted for 27 percent of the total export value, supporting most of the growth.
The sharp decliners were Hong Kong ({{0}}.7 percent ), Japan (-11.9 percent ), and South Korea (-18.7 percent ). Singapore increased by 0.6 percent , returning to the 2019 level, and the UAE increased by 6.4 percent , significantly exceeding the 2019 level.
In Europe, the United Kingdom (-2.4 percent ) barely suppressed the decline, Germany (-5.9 percent ) saw a sharp decline, and the situation was extremely difficult in France (11.2 percent ), Italy (-11.5 percent ), and Spain (-12.9 percent ). On the other hand, the Netherlands, probably due to logistical reasons, surged by 12.6 percent .
