Swiss watch exports in October 2025: USA collapses again, almost all other top 10 markets develop positively

The Swiss watch industry recorded a 4.4 percent decline in exports in October compared to the same period last year, reaching CHF 2.2 billion. This brings the total exports of Swiss watch manufacturers for the year to CHF 21.2 billion, roughly the same as last year's figure of CHF 21.5 billion (-1.6%).

Once again, the US tariff volatility had a significant impact on the export statistics, which the Association of the Swiss Watch Industry published monthly, and which shows a decrease of 46.8 percent in US exports for October compared to October 2024.

The hope for Tariff reduction – which are not doing so badly at all – and full warehouses after massive exports The effects of imports into the United States before the 39 percent tariff took effect are now being felt.

With the exception of the USA, almost all top 10 markets are growing.

Otherwise, October wasn't so bad for Swiss watch exporters.

Of the top 10 markets, 7 recorded an increase, including China, and this for the second month in a row:

China (+12.6 %), Hong Kong (+2.4 %), Singapore (+6.6 %), United Arab Emirates (+38.8 %), France (+10.8 %), Germany (+3.9 %) and Italy (+4.3 %). Only Japan (-5.6 %) and Great Britain (-7.4 %), along with the USA (-46.8 %), had negative results.

All material groups except the "Other Materials" category (+7.6%) saw a decline. Bimetallic and steel watches fell by 7.2%, while watches made of precious metals fared better (-1%) and only experienced a slight decline.

The number of exported items in October exceeded that of the same month last year by 11,000 additional units (+0.8 %). This increase was mainly due to growth in steel models (+9.8 %), but was offset by the negative development in the "Other Materials" category (-23.6 %).

The results varied depending on the price segment. The increases in value for watches with an export price below CHF 200 (+8.3 %) and between CHF 500 and 3,000 (+9.4 %) were partially offset by the sharp decline in watches above CHF 3,000 (-7.1 %).