The Swiss watch industry is ticking back to positive territory. After a turbulent period, Swiss watch exports saw a 4.1% growth in January 2025, edging close to the CHF 2 billion mark. This rebound signals resilience in the luxury watch sector despite ongoing global market challenges.
Luxury Leads the Way
High-end timepieces continue to drive the industry forward. Watches made from precious metals (+9.7%) and bimetallic models (+8.9%) led the charge, while steel watches saw a 2.4% decline in value. Total export volume fell 4.2%, with just under 1.1 million units shipped, highlighting a shift towards premium-priced pieces.
Key Market Trends
- The U.S. remains dominant (+16.2%), maintaining its position as the top destination for Swiss watch exports.
- Japan shines with a remarkable 26.2% growth, defying trends in other Asian markets.
- China (-29.1%) and Hong Kong (-11.7%) continue their downward trajectory, reflecting shifting consumer demand.
- Singapore (+3.8%), the UK (+3.2%), and the UAE (+14.3%) all posted gains, further diversifying the Swiss watch export landscape.
The Price Factor
Ultra-luxury watches are the strongest performers. Timepieces priced above CHF 3,000 grew by 7.0%, while entry-level watches under CHF 200 held steady at +0.7%. However, the mid-range category suffered, with watches between CHF 200–3,000 declining by 8.0%.
As Swiss watchmaking heads into 2025, premium craftsmanship and exclusivity continue to define success. The luxury sector remains resilient, but with shifting demand patterns, brands will need to innovate to sustain long-term growth.
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