Swiss watch exports continued to weaken in 2026, falling 3.6% year-on-year last month to 1.9 billion Swiss francs ($2.5 billion), according to the Federation of the Swiss Watch Industry.
The decline was largely driven by reduced demand for high-end timepieces, particularly watches made from precious metals. Exports in the premium segment—priced above 3,000 francs—dropped 8.1% in value, while shipments of precious metal watches contracted 14%. Although bimetallic watches recorded a 16% increase, it was not enough to offset the broader slowdown.
The industry is still adjusting after disruptions caused by US tariffs introduced under President Donald Trump. Although tariffs were later reduced—from 39% to 15%—the uncertainty led to fluctuating shipment patterns. Exports to the United States, which accounts for 17% of global Swiss watch exports, initially surged before slowing sharply. Overall, exports to the US ended the year down just 0.5%, with a strong rebound of 19.2% in December offering cautious optimism.
Meanwhile, exports to China and Hong Kong rose modestly ahead of Lunar New Year, while France saw a sharp increase. However, markets like Singapore and the UK reported declines.
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