Swiss Watch Exports Show Stability in May 2026
Swiss watch exports remained broadly stable in May 2026, according to the latest figures released by the Federation of the Swiss Watch Industry (FH). Exports edged up by 0.4% compared with the same month last year, while the total value of exports for the first five months of 2026 reached CHF 2.1 billion, representing a 3.1% decline year on year.
Precious Metal and Steel Watches Lose Momentum
Demand weakened for watches with precious metal cases, which recorded a 7.2% decline in export value, while steel-cased watches fell by 5.2%.
Despite a sharp increase in demand for bicolour watches (+34.0%), the overall value of Swiss watch exports recorded a modest 0.6% increase during May.
Export Volumes Continue to Decline
The picture was similar when measured by the number of watches exported.
Shipments of steel watches fell by 9.6%, while exports of precious metal models declined by 14.6%. Growth in watches made from other materials (+17.3%) and other metals (+18.4%) was not sufficient to offset the declines in steel and precious metal watches.
Overall, Switzerland exported approximately 14,000 fewer watches in May 2026 than in May 2025.
Mixed Performance Across Price Segments
Demand varied significantly between different price categories.
Watches priced between CHF 200 and CHF 500 recorded the strongest growth, with export value increasing by 23.6%. Models priced above CHF 3,000 posted a more modest increase of 3.7%.
By contrast, the CHF 500 to CHF 3,000 segment recorded a sharp decline of 17.2%.
United States and United Kingdom Lead Market Growth
Among Switzerland's major export destinations, the United States remained the principal growth driver, with exports rising 12.3% during May.
The United Kingdom also recorded strong growth, with exports increasing by 24.9%.
France retained its position among the leading export markets, recording an exceptional 57% increase. According to the Federation of the Swiss Watch Industry, this reflects France's role as a logistics platform since December 2025, with Swiss watches increasingly being exported through France.
China Remains Weak While Hong Kong Recovers
Hong Kong continued to regain its position as one of the largest destinations for Swiss watch exports, posting 3.4% growth.
Mainland China, however, remained under pressure, with exports declining by 21.4%.
Other important markets also recorded lower export values during May, including Japan (-3.5%), the United Arab Emirates (-13.5%) and Germany (-18.0%).
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