Swiss Watch Exports in September 2025
A sharp downturn in the United States offsets positive momentum in other markets
Swiss watch exports fell in September 2025, according to the latest data from the Federation of the Swiss Watch Industry. The total value of exports declined by 3.1 percent to reach 2 billion francs. Over the first nine months of the year, exports amounted to 19 billion francs, representing a contraction of 1.2 percent compared with the same period in 2024.
Performance by material categories
Among the key material groups, the steepest decline was observed in bicolour watches, which fell by 10.4 percent in value. Watches classified under Other Metals recorded a decrease of 5.5 percent, and those categorised as Other Materials fell by 5.2 percent. Timepieces in precious metal cases remained comparatively stable and even registered a modest increase of 1.5 percent.
In terms of total volume, exports were lower by 94,000 units compared with September of the previous year, a drop of 7.6 percent. Steel watches were the dominant factor behind the decrease, falling by 6.1 percent, while watches made from Other Materials saw an even sharper decline of 16.2 percent.
Performance by price segment
Only watches with an export value between 500 and 3,000 francs recorded growth during the month, rising by 4.2 percent. All other segments experienced contraction. Watches priced above 3,000 francs posted a relatively small decline of 3.4 percent, while the segment below 500 francs saw a substantial reduction of 15.6 percent.
Market-by-market analysis
Most export markets recorded healthy growth in September, but a dramatic change in the United States wiped out the overall gains. Exports to the US fell by 55.6 percent, causing a significant drag on global results. Without the American market, total Swiss watch exports for the month would have shown an increase of 7.8 percent.
Across Europe, performance varied considerably. The strongest momentum was recorded in the United Kingdom, which posted growth of 15.2 percent. Other major European markets moved in the opposite direction. France fell by 3.5 percent, Germany by 14.6 percent and Italy by 3.9 percent.
In Asia, the decline continued only in Japan, where exports fell by 7.9 percent. The pace of contraction in Japan, however, has slowed over the past four months. Other Asian markets displayed clear improvement. Hong Kong grew by 20.6 percent, China by 17.8 percent and Singapore by 8.3 percent. Additional markets outside the core region performed even more strongly, including South Korea at 21.5 percent, Australia at 14.2 percent, Mexico at 44.1 percent and India at 28.3 percent.
A month defined by extremes
September 2025 illustrates the divergent dynamics currently shaping the global watch trade. Strong gains in many regions, particularly Asia and selected emerging markets, indicate continued appetite for Swiss watchmaking. At the same time, the sharp downturn in the United States underscores the volatility facing the industry and its dependence on a small number of strategic markets.
