Swiss Watch Exports Rebound in February 2026
Following a mixed start to the year, Swiss watch exports returned to growth in February 2026, highlighting renewed momentum across several key markets.
Total exports reached CHF 2.2 billion, representing an increase of 9.2 percent compared to February 2025. The recovery was largely driven by strong performance in three major markets.
Performance by Material
Growth was particularly pronounced among watches made from precious metals, which rose by 12.4 percent in value. Bicolour models delivered an even stronger performance, surging by 38.4 percent.
In contrast, watches in steel cases recorded a modest decline of 4.6 percent, indicating differing demand across segments.
Volume Trends
In terms of volume, total shipments increased by 14 percent. Watches in precious metals and bicolour configurations again led the way, with gains of 32.7 percent and 31.8 percent respectively.
Watches categorised under other materials also contributed positively, rising by 16.8 percent. Steel models, despite weaker performance in value terms, still recorded a volume increase of 11.3 percent.
Performance by Price Segment
All price categories recorded growth during the month, although the pace varied.
The most notable increase was seen in watches with export values between CHF 500 and CHF 3,000, which rose by 18.7 percent in value and 17.4 percent in volume. Higher-end models priced above CHF 3,000 also expanded, though at a more moderate rate of 8.9 percent in value and 8.4 percent in volume.
Regional Market Highlights
Three markets stood out as key drivers of February’s growth. Exports to the United States rose sharply by 26.8 percent, while Japan recorded an increase of 23.7 percent. France delivered the most significant surge, climbing by 57.1 percent and extending its positive trend for a third consecutive month.
The strong performance in France may partly reflect its role as a transit hub for exports to other regions.
Elsewhere, results were more mixed. Hong Kong and China both declined following gains in January, falling by 5.2 percent and 11 percent respectively. Singapore and the United Arab Emirates each posted moderate growth of 5.1 percent, suggesting that recent tensions in the Middle East have not yet affected demand for Swiss watches in the region.
Across Europe as a whole, exports increased by 7.2 percent. The United Kingdom recorded a rise of 10 percent, while Germany and Italy experienced slight declines of 3.5 percent and 2 percent respectively.
A Market Defined by Contrasts
February’s data illustrates a market characterised by contrasting trends across materials, price segments and regions. While strong demand in key markets has supported overall growth, uneven performance elsewhere suggests that the recovery remains selective rather than uniform.
As the year progresses, the balance between these dynamics will likely shape the trajectory of Swiss watch exports in 2026.
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