Swiss Watch Exports in July 2025

Export Performance by Materials

Precious metal watches increased in value by 5.3 per cent, steel models by 9.1 per cent, and bi-metal (two-tone) watches by 16.9 per cent. The total number of exported units rose modestly by 0.3 per cent, equal to 1.4 million timepieces delivered worldwide.

Growth in volume was most pronounced for steel watches, which rose 12 per cent, and bi-metal models, which climbed 24.6 per cent. Precious metal watches remained stable, while other metals recorded only a minor rise of 1.6 per cent. By contrast, watches classified under “other materials” suffered a steep contraction of 23.1 per cent in units shipped.

Export Performance by Price Segments

The mid-range and luxury categories drove overall value growth. Timepieces priced between 200 and 500 Swiss francs rose by 7.3 per cent, while watches above 3,000 Swiss francs gained 9.4 per cent. The segment below 200 Swiss francs continued to underperform, with a 1.9 per cent fall in value and a 3.6 per cent drop in volume. This trend confirms the gradual decline of lower-priced Swiss watches, which face strong competition from Asian manufacturers and connected devices.

Regional Market Overview

The United States was the standout destination, with exports up 45 per cent. This sharp rise was the result of brands and distributors building inventories before tariffs take effect, rather than reflecting genuine demand dynamics.

Asia remained mixed. Japan declined by 10.1 per cent and mainland China by 6.5 per cent, extending a period of subdued demand caused by economic uncertainty and cautious consumer sentiment. Hong Kong returned to growth with a 4.6 per cent rise, while Singapore performed strongly at 14.8 per cent.

European markets were steady. The United Kingdom posted a slight gain of 0.2 per cent, illustrating stable but unspectacular demand. Other European markets followed a similar pattern of resilience without significant expansion.

Broader 2025 Context

The July figures fit within a wider picture of volatility in 2025. Since the beginning of the year, Swiss watch exports have experienced alternating months of growth and contraction. The strong performance in the United States has offset weakness in Asia, particularly China, which remains the second-largest market for Swiss watches. The upcoming tariffs add an additional layer of uncertainty, raising the prospect of a temporary slowdown once pre-tariff inventories in the US have been absorbed.

Long-term structural trends remain clear. The premium and luxury segments continue to expand, fuelled by consumer appetite for high-value mechanical watches, while the entry-level sector struggles to maintain relevance in the face of global competition. Swiss watchmakers are increasingly focused on reinforcing their positions in the upper price tiers, where growth and profitability remain strongest.

Conclusion

Swiss watch exports in July 2025 reached nearly 2.4 billion Swiss francs, but the headline growth was primarily driven by advance shipments to the United States ahead of tariff increases. Steel and bi-metal watches recorded the strongest gains, while demand continued to contract for entry-level models. With Asia under pressure and Europe steady, the industry faces the prospect of a correction in the coming months once the impact of tariff-related stockpiling subsides. The data highlights both the resilience of the high-end sector and the ongoing challenges facing Swiss watchmaking at lower price points.