Federation of the Swiss Watch Industry FH Reports December 2025 Export Figures

Volumes and Product Categories

The rebound in December was driven primarily by bi metal models, which recorded a 41.2 per cent increase in value. Other categories continued to experience softer demand.

In volume terms, bi metal watches also made a significant contribution, rising by 24.9 per cent. Watches classified under other metals increased by 25.9 per cent, while steel models advanced by 9.0 per cent. Total shipments for December reached 1.4 million units, up 7.6 per cent year on year.

Over the course of 2025, however, export volumes declined by 4.8 per cent, with total shipments amounting to 14.6 million units.

Price Segments

All price categories recorded growth in value during December. Particularly strong performance was observed in the CHF 200 to 500 segment, which rose by 20.6 per cent.

In the traditionally dominant category of watches priced above CHF 3,000, exports increased by 2.1 per cent in value terms, although volumes in this segment declined by 1.8 per cent.

Key Markets

A significant factor behind the December improvement was the reduction of US import duties from 39 per cent to 15 per cent. As a result, exports to the United States surged by 19.1 per cent.

France posted an even stronger rise of 50.8 per cent, reversing a previously negative trend. Singapore and the United Kingdom also recorded growth of 13 per cent and 9.3 per cent respectively.

Elsewhere, demand remained under pressure. Exports declined to Hong Kong by 8.0 per cent, to China by 6.8 per cent, to Japan by 1.9 per cent, to the United Arab Emirates by 5.2 per cent, to Germany by 20.8 per cent and to Italy by 20.1 per cent.

Despite the positive end to the year in value terms, the overall annual figures reflect a contraction in unit volumes, underlining the uneven recovery across markets and product categories.