Swiss Watch Exports: Diverse Trends Across Different Markets
After a weak start to the year, Swiss watch exports posted significant growth in February 2026 compared with the same month a year earlier. However, in terms of sales, exports in February 2025 were at their lowest level since September 2024 and more than eight percent below the level of February 2023.
In terms of value, the Swiss watch industry exported goods worth a total of €2.2 billion in February 2025. This represents an increase of 9.2 percent (+10 percent for wristwatches and other products) compared to the same period last year. In terms of volume, exports rose by 8.4 percent. “Although this result was partly influenced by a positive base effect, it was primarily the very strong growth in three of the most important markets that tipped the scales,” explains the Federation of the Swiss Watch Industry FH, which publishes monthly figures on watch exports.
Significant increase in export volume
In terms of value, watches made of precious metals (+12.4%) and bimetal watches (+38.4%) performed strongly, while steel products (-4.6%) countered the upward trend. The number of exported items also rose significantly (+14%), driven mainly by steel watches (+11.3%)—despite their decline in value—as well as bimetal models (+31.8%) and watches made of other materials (+16.8%).
All price segments saw growth in February, albeit to varying degrees. Watches with an export price of over 500 CHF were the main driver of growth, with the segment between 500 and 3,000 CHF recording a rise that was twice as high.
Strong demand in France
In terms of value, the United States (+26.8%) saw particularly strong growth, although it remains subject to significant fluctuations due to tariff-related uncertainties. In Japan (+23.7%) and France (+57.1%), demand rose for the third consecutive month.
“This latest trend cannot be explained by domestic growth and likely reflects transit through France to other destinations,” comments the Federation of the Swiss Watch Industry (FH).
The situation in Hong Kong (-5.2%) and China (-11.0%) remained fragile, even though the positive trend in January had pointed to a more optimistic outlook. Watch exports to Singapore rebounded in February (+5.1%) and remained stable in the United Arab Emirates (+5.1%), which had not yet been affected by the crisis in the Middle East over the past three weeks.
Growth in Europe (an average of 7.2%) was uneven: there were increases in France and the United Kingdom (+10%), while Germany (-3.5%) and Italy (-2%) saw declines.
