Published 30 June 2025
Swiss watch exports clawed back 1.5 % in March, hitting CHF 2.13 billion, but the first quarter still closed 1.1 % down year-on-year. Steel models (+5 % by value) led the rebound, while bimetallic and precious-metal pieces logged slight gains. Higher-priced watches (above CHF 500) grew nearly 2 %, masking double-digit contractions in the CHF 200–500 segment. Regionally, the United States surged 13.7 % to CHF 405 million and overtook Hong Kong, whose imports slid 11.3 %. China’s 11.5 % dip kept Asia in the red despite a slowing rate of decline.
The data suggest demand resilience at the luxury end but ongoing pressure in mid-range categories, forcing brands to juggle heritage storytelling, sustainability messaging and cautious production volumes through the summer. Whether March’s uptick is the start of a recovery or merely a post-tariff inventory adjustment remains the key question for the June and July export prints.
