Growth of 9% and contrasts across global markets.
After an ambiguous start to the year, Swiss watch exports surged again in February. The total export value reached CHF 2.2 billion, which is a 9.2% increase compared to February 2025. The primary drivers of February's growth were sharp increases in three key markets.
A significant positive trend in February was observed in the group of watches made of precious metals (+12.4%) and bi-color models (+38.4%), while watches with steel cases showed a slight decline (-4.6%).
The total number of watches shipped increased by 14%. The most noticeable contributions to this result came from the same models in precious metal cases (+32.7%) and bi-color models (+31.8%). Watches in the 'Other Materials' category (+16.8%) and surprisingly, financially declining steel (+11.3%) had a slightly lesser impact on the overall picture.
In different price categories, all watches showed growth to some extent. It was most notable in models with an export value of CHF 500 to 3,000 (+18.7% in financial terms and +17.4% in volumes). The most expensive watches (valued at CHF 3,000 and above) grew more modestly (+8.9% in financial terms and +8.4% in volumes).
As mentioned earlier, three markets showed sharp growth in February: the USA (+26.8%), Japan (+23.7%), and France (+57.1%). France has been in the positive for three consecutive months. Experts explain the sharp rise of the French market in February by the fact that France can be a transit point for exports to other countries.
Following January's growth, Hong Kong and China fell back again (-5.2% and -11% respectively). Exports to Singapore increased by 5.1% in February. The same figure, +5.1%, was recorded for the UAE. Apparently, the crisis that unfolded in the Middle East in recent weeks has not yet affected the Arab interest in Swiss watches.
The average result for Europe is +7.2%. Against the backdrop of France's sharp surge, the UK's growth seems modest (+10%), while small declines in Germany (-3.5%) and Italy (-2%) are almost negligible.