Swiss Timepiece Exports in Slight Decline: Rough Waters Ahead or Just a Momentary Dip?

Last year, 2025, marked a slightly tumultuous period for the Swiss watch industry. Their export statistics, closely monitored as a reliable indicator of industry trends, evidenced a 1.7% decline compared to the previous year. This followed a period of robust growth and record-breaking heights reached in 2021, 2022, and 2023. The downturn became more pronounced after four consecutive months of precipitous decline, ending the year on a somewhat positive note in December with a 3.3% rise in exports.

Unfavourable conditions in several major markets also contributed to the downturn. The Chinese market, a significant player in the industry, displayed a marked decrease in imports due to unpredictable economic conditions and shifting consumer behaviours. The yen’s strength negatively impacted exports to Japan, compounded by a decrease in Chinese tourist expenditures. Moreover, Swiss watchmakers grappled with the evolving tariff landscape in the U.S., a major disruption for its largest market.

Despite the overall decline, the year did see some survival stories. Luxury groups Richemont and LVMH reported increases in sales and organic growth in their Watches and Jewellery divisions respectively.

Specifically, 14,599,154 units of wristwatches were exported by the Swiss in 2025, a significant decrease of 4.8% compared to 2024. However, the large price per unit suggests continuous value appreciation of these timepieces. Particular segments, especially watches priced over CHF 3,000, experienced a decline of 1.9%. Watches in the price segment of CHF 500 - 3,000 remained stable, but those priced below this mark decreased by 4.5%.

In summary, last year presented a mixed bag for the Swiss watch industry. While the short-term may be slightly worrisome, the industry’s resilience and adaptation in the face of changing market dynamics would certainly play a key role in navigating these quieter waters.