Swiss Watch Exports Rise 11.7% in September 2026 as Growth Continues for Fourth Month

Steel and Bimetallic Watches Drive September Export Growth

Watches made from stainless steel and combinations of precious and non-precious metals played an important role in September's performance. Steel watches recorded a 13.0% increase in export value, while bimetallic models achieved even stronger growth of 29.3%.

The increase was also reflected in the number of watches shipped overseas. Steel watch exports rose by 21.5% in volume, while models classified as being made from other materials increased by 17.9%.

Together, these two material categories accounted for approximately 81% of all watches exported during the month. Their performance therefore had a substantial influence on the overall increase in shipment volumes.

In total, Switzerland exported approximately 228,000 more watches than in September 2025.

The figures indicate that the industry's September growth was not limited to higher export values. A greater number of timepieces also reached international markets, with steel watches making a particularly significant contribution.

Swiss Watch Exports Increase Across Price Categories

September's positive results extended across different price segments, although the pace of growth varied considerably.

Watches with an export value exceeding CHF 3,000 continued to make an important contribution to the industry's financial performance. This category recorded an increase of 9.9% compared with September 2025.

However, the most pronounced percentage growth occurred among more accessible timepieces. Watches with an export value below CHF 500 recorded a particularly strong year-on-year increase of 39.5%.

The main developments included:

• Watches above CHF 3,000: The category recorded growth of 9.9%, contributing to the industry's overall positive performance.

• Watches below CHF 500: Exports increased by 39.5%, representing the strongest percentage rise among the broad price categories highlighted in the September figures.

• Other price segments: Positive year-on-year changes were also recorded, indicating that growth was not confined to either end of the market.

These figures suggest that September's expansion was relatively broad-based. Higher-priced watches remained important to total export value, while lower-priced models also recorded substantial growth.

It is important to distinguish export prices from retail prices. The FH statistics classify watches according to their declared value when exported from Switzerland, rather than the amount ultimately paid by customers in shops.

US Watch Exports Surge While China and Several Asian Markets Decline

The geographical breakdown reveals a less uniform picture. Although total Swiss watch exports increased significantly, several important destinations recorded lower shipment values than a year earlier.

The United States delivered the strongest increase among the markets highlighted in the September report, with exports rising by 85.7%. The substantial rebound was largely attributable to a low comparison base in September 2025, rather than necessarily indicating an equivalent increase in underlying consumer demand.

Japan also performed positively, recording growth of 12.3%, while exports to Hong Kong increased by a more modest 3.0%.

Other major markets experienced declines. China recorded a 14.2% decrease, while exports to the United Kingdom fell by 5.2%. Singapore and the United Arab Emirates also reported negative results.

Swiss Watch Export Performance by Market, September 2026

The contrast between the United States and China is particularly notable. While shipments to the American market rebounded sharply, exports to mainland China moved in the opposite direction.

However, year-on-year comparisons require careful interpretation. An unusually weak or strong performance in the corresponding month of the previous year can produce substantial percentage changes without necessarily reflecting a comparable shift in current consumer demand.

The September figures therefore highlight both the importance of individual markets and the volatility that continues to influence international watch shipments.

What September's Results Mean for the Swiss Watch Industry

Four consecutive months of export growth represent an encouraging development for Switzerland's watch industry. September's 11.7% increase contributed to a positive nine-month performance, with cumulative exports reaching CHF 19.5 billion.

The latest statistics also show positive export developments across several parts of the market. Steel and bimetallic watches supported growth in export value, shipment volumes increased, and lower-priced models recorded particularly strong percentage gains.

Nevertheless, regional differences remain significant. The substantial increase in exports to the United States contrasts with declining figures in China, Singapore, the United Arab Emirates and the United Kingdom.

Another important consideration is that export statistics measure watches shipped from Switzerland, not purchases made by final customers. Changes in wholesale inventories, distribution patterns and the timing of shipments can influence monthly results.

September 2026 therefore provides further evidence of improving export performance, but the uneven results across major markets suggest that the industry's longer-term trajectory should still be assessed with caution. The figures for the remaining months of the year will help determine whether the positive trend can be sustained.