The year began with a decline in exports.
According to the Federation of the Swiss Watch Industry, Swiss watch exports decreased by 3.6% in January 2026, amounting to CHF 1.9 billion.
The decline in export value was driven by the downturn in two of the most popular watch categories: shipments of models with precious metal cases fell by 14%, and steel watches declined by 4.5%. Even a growth in the export of bicolor models (+16.1%) did not smooth the situation.
Regarding shipment volumes, a slight increase was noted (+2% for wristwatches). The main growth driver remained the same bicolor models (+45.1%). Watches from the 'Other Materials' category also saw a small increase (+2.9%). Overall, in January 2026, approximately 23,000 more watches were exported than in the previous year.
The situation across different price categories mirrored the pattern seen with watches made from various materials. Models with an export value of CHF 3,000 or more lost 8.1% financially compared to January 2025. Growth in other price segments, particularly a sharp rise in demand for watches priced between CHF 500 and 3,000 (+17.7%), was insufficient to compensate for this drop.
The key export markets again showed a pronounced disparity in performance. The USA once again experienced a significant decline (-14.0%). Hong Kong (+2.6%) and China (+5.0%) seem to be returning to growth, while Japan has yet to see growth due to a low base effect (-7.5%).
France continued its positive trend noted in December (+36.8%). The UAE's results were more modest (+8.1%), but they remain among the top six markets. Singapore and the United Kingdom were in the negative this time (-14.3% and -6.3% respectively). In Germany, the trend of declining figures continued (-16.4%).