Swiss Watch Exports Fall Sharply in April 2026

Precious Metal and Steel Watches See the Largest Declines

In value terms, nearly every watch category recorded lower export figures during April.

The sharpest declines were seen among watches in precious metal cases, which fell by 24.3%, followed by steel-cased models, down 18.1%. The only category to post positive growth was the "Other Metals" segment, which increased by 10.0%. However, the category remains too small to significantly influence overall export performance.

Export volumes also weakened considerably. Watches in precious metal cases recorded a 26.1% decline in shipments, while two-tone models fell by 16.4% and steel watches by 10.6%.

Overall, Swiss watch exports decreased by approximately 129,000 units during the month.

Higher-Priced Watches Under Pressure

The downturn affected almost every price segment.

The most significant decline was recorded among watches with an export value above CHF 3,000, where exports fell by 19% in value terms. By contrast, the CHF 200 to CHF 500 category delivered one of the few positive results, rising by 7.7%.

The category above CHF 3,000 recorded the largest decline among the reported price segments.

US Market Records Sharp Decline

Among Switzerland's major export destinations, the United States experienced the most dramatic decline, with exports falling by 56.4% in April.

The comparison is influenced by exceptionally strong performance during the same period last year, when the cancellation of planned tariff increases triggered a sharp rise in purchases of Swiss watches. When compared with 2024 levels, exports to the US remain higher, showing growth of 8.9%.

Mixed Performance Across International Markets

France delivered one of the strongest results among major markets, posting growth of 46.3%.

Several Asian markets also recorded gains. Exports to Singapore increased by 17.3%, while China and Hong Kong rose by 17.1% and 13.5% respectively.

Several other markets recorded declines during the month. Exports to Japan fell by 12.1%, while the United Kingdom and the United Arab Emirates recorded declines of 9.7% and 9.5% respectively. Germany also remained in negative territory, with exports down 6.4%.

Key Markets Show Mixed Results

While France, Singapore, China and Hong Kong recorded positive growth in April, several major markets, including the United States, Japan, the United Kingdom, the United Arab Emirates and Germany, posted declines.

The sharp drop in exports to the United States had a significant impact on the overall monthly result for Swiss watch exports.