Swiss watch exports recorded 2.7% growth in the year 2017 worldwide, as a whole it recorded little short of CHF 20 billion francs (19,924 mln precisely) against CHF 19.4 Billion for the same period in 2016 as per the Swiss Watch Federation.
The Middle East markets recorded a net of CHF 1958.2 million Swiss Watch Exports for the year 2017 in comparison to CHF 1981.60 million for year 2016, a small drop of (1.2%). This was a result of drop in the key markets like UAE (CHF 891.4 in 2017 compared to CHF 923.6 in 2016 a drop of (-3.5%), Saudi Arabia (CHF 325.1 in 2017 compared to CHF 347.3 in 2016 a drop of (-6.4%) and Kuwait (CHF 137.6 in 2017 compared to CHF 143.4 in 2016 a drop of (-4.0%). The exports of Swiss Watches increased in the Kingdom of Bahrain (+11.3%) and Qatar (+3.7%).
The Middle East is still well positioned amongst the emerging-market countries as the growing market for importing high end Swiss Watches. In spite of the challenges facing this industry, the rising incomes & growing prosperity in the Middle East continues to offer substantial growth opportunities for the luxury watch industry and for the growth of imports of Swiss Watches in the Middle East;
Note to readers:
Data provided byFederation of Swiss Watch Industry FH.
Cautionary &Acknowledgment:
Allthe figures released by FH refer to exports data and not to sales toend-consumers. Differences between these two types of data may therefore exist.These data must be regarded as consolidated figures gathering export resultsfrom all Swiss watch companies.