Turkey purchased 7 billion TL worth of Swiss watches in the first 7 months
In the first 7 months of 2023, Turkey imported 170.1 million dollars worth of watches from Switzerland, surpassing countries with high national income such as Qatar, Canada, and Kuwait. Switzerland exported 16.9 million wristwatches, generating 30 billion dollars in revenue, with an average export price of 1,775 dollars per watch.
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Turkey imported 170.1 million dollars worth of watches from Switzerland.
According to the figures for the first 7 months, Turkey has surpassed countries with lower populations but much higher per capita national income, such as Qatar, Canada, Austria, Ireland, Kuwait, Belgium, and Bahrain, in watch imports from Switzerland.
According to the report in Gazete Oksijen, despite the stagnation in sales, Switzerland remains the world's number one watch exporter. Swiss manufacturers, which exported 16.9 million wristwatches in 2023, generated 25.5 billion francs (30 billion dollars) in foreign currency revenue. Thus, the sector's average export price per watch was 1,775 dollars. (These watches are sold by adding a retail profit margin of around 40 percent to the price after customs duties and other taxes.)
China, the largest exporter by volume, exported exactly 534.4 million wristwatches in 2023. China's export revenue remained slightly below 5 billion dollars, with an export price per watch of around 9 dollars.