HS Code:
The 'With mechanical display only' category (HS Code: 9102.11) pertains to wristwatches, pocket watches, and other watches that are not electrically operated and feature only a mechanical display. This category includes timepieces powered by a mechanical movement, such as automatic or manual winding mechanisms, without electronic components or digital displays. These products are often valued for their craftsmanship, aesthetic appeal, and historical significance, appealing to collectors, luxury markets, and niche consumer segments.
Total Trade Volume
USD 2.5 billion
Data from 2022
Source
United Nations Comtrade Database
USD 1.8 billion
72% of total trade of total trade
Increasing
USD 300 million
12% of total trade of total trade
Stable
USD 200 million
8% of total trade of total trade
Decreasing
USD 100 million
4% of total trade of total trade
Increasing
USD 50 million
2% of total trade of total trade
Increasing
Average Rate
5.2%
Highest Rate
12% (applied by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-Switzerland)
Rising demand for luxury mechanical watches
Increased exports from Switzerland and Germany, driven by high-net-worth individuals and collectors in Asia and North America.
2021-2022
Shift towards sustainable and heritage branding
Brands emphasizing traditional craftsmanship and eco-friendly materials are gaining market share, influencing consumer preferences.
2020-2022
Decline in mass-market mechanical watches
Reduced trade volumes for lower-end products as consumers opt for smartwatches and digital alternatives.
2019-2022
The European Union and Switzerland renewed their bilateral trade agreement, maintaining zero tariffs on mechanical watches, boosting Swiss exports.
March 2023
Strengthens Switzerland's dominant position in the EU market, potentially increasing trade volume by 5-10%.
China reduced luxury import taxes on high-end watches, including mechanical display models, to stimulate domestic consumption.
January 2023
Expected to increase imports of Swiss and German mechanical watches into China by 15% over the next two years.
The United States initiated a review of tariffs on luxury imports, including mechanical watches, amid trade negotiations with the EU.
September 2022
Potential tariff reductions could boost imports from Europe, impacting domestic pricing and competition.