Swiss Watch Exports in November 2025

The decline affected both shipment volumes and export value across most material categories. In value terms, the most pronounced decreases were recorded among watches made of precious metals, down 4.9 percent, and steel watches, which fell by 9.3 percent.

In terms of volume, approximately 1.3 million watches were exported in November. This represents a reduction of around 157,000 units compared with the same month last year. The decrease was driven primarily by lower shipments of steel cased watches, down 5.5 percent. Demand also weakened sharply for watches classified under other materials, which declined by 19.6 percent, while bi metal models recorded a significant contraction of 21.7 percent.

Most price segments were affected by the downturn. Watches priced above CHF 500 experienced an average decline in export value of 7.8 percent. The only category to post growth was the CHF 200 to CHF 500 segment, which recorded an increase of 6.8 percent.

Regional performance remained uneven. Exports to the United States continued to fall sharply, declining by 52.3 percent year on year. In contrast, exports to the United Kingdom increased by 7.9 percent. Hong Kong maintained a modest positive trajectory, with exports rising by 3.1 percent, continuing the growth first noted in September.

Elsewhere in Asia, results remained negative. Japan recorded another monthly decline, with exports down 4.1 percent, extending a pattern observed in recent months. Mainland China also posted a decrease, with exports falling by 3.2 percent.

Overall, the November figures confirm a broad based contraction in Swiss watch exports as 2025 draws to a close. While certain price brackets and individual markets showed positive movement, the aggregate result for the month remained firmly negative.