Already down in 2024, Swiss watch exports slowed even further last year. They were particularly affected by geopolitical tensions, including the introduction of new customs duties in their largest market, the United States, and a continued decline in consumption in Greater China.
2025 was another mediocre year for Swiss watch exports.
After already declining by 2.8% in 2024, international sales of Swiss watches fell by 1.7% in value to 25.6 billion Swiss francs, according to the Federation of the Swiss Watch Industry (FH).
One small consolation is that timepieces are now positioned at a higher price point: in terms of volume, the decline (-4.8%) was more significant, with a total of 14.6 million pieces exported.
Improvement in December
Another factor that may give Swiss watchmakers some cause for optimism is that in December 2025, their exports “returned to positive growth (+3.3%), reaching 2.1 billion francs after four consecutive months of sharp declines.” But contrary to the annual trend, growth was stronger in terms of volume (+7.6% to 1.4 million timepieces exported) in December.
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Read also > Switzerland-United States: customs duties reduced to 15%
Featured photo: © Rolex
