Swiss watch exports fell by 7.3 percent to CHF 2.2 billion in November, signalling a deepening slowdown for the industry, according to the Federation of Swiss Watch Industry. The monthly contraction brings the cumulative decline for 2025 to 2.2% percent, one month before year-end.
The downturn spanned all material categories, with timepieces in precious metals down 4.9 percent and steel watches plunging 9.3 percent, significantly dragging overall export value. Export volumes dropped to 1.3 million units, a year-on-year decrease of 157,000 pieces.
By price category, only watches priced between CHF 200 and CHF 500 saw growth, up 6.8 percent, while other ranges declined by an average of 7.8 percent.
Among key markets, the United States recorded a steep fall of 52.3 percent, continuing to weigh on the overall figures. By contrast, the United Kingdom showed renewed growth at 7.9 percent, and Hong Kong maintained its recovery with a 3.1-percent rise. Japan remained subdued, declining 4.1 percent, while Singapore gained 4.9 percent, and China slipped modestly by 3.2 percent.
The latest figures underscore the mounting pressure on the Swiss watch sector amidst uneven global demand. Analysts say elevated inventories, shifting consumer preferences, and currency fluctuations continue to challenge export performance across key markets. (Photo courtesy: TAG Heuer)
06-01-2026
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