US Surge Drives 11.7% Rise in Swiss Watch Exports

(IDEX Online) - Swiss watch exports rose 11.7 per cent year on year in September to CHF 2.226bn ($2.74bn), marking a fourth consecutive month of growth.

Shipments to the United States surged 85.7 per cent to CHF 292.9m ($361m), partly reflecting a sharp tariff-related slump a year earlier, when exports fell amid uncertainty over Washington's 39 per cent tariffs on Swiss goods.

The US rebound was a major contributor to the overall increase, with the rise in shipments to the market accounting for roughly 57 per cent of the year-on-year gain in total Swiss watch exports.

So the figures point to a significant recovery in exports to the US, but do not establish a comparable increase in underlying demand.

Exports in the first nine months of 2026 reached CHF 19.5bn ($23.6bn), up 2.7 per cent on the same period last year, according to the Federation of the Swiss Watch Industry FH.

Among other leading markets, exports to Japan increased 12.3 per cent to CHF 177.3m ($219m), while shipments to Hong Kong rose 3 per cent to CHF 160.5m ($198m).

Exports to the United Kingdom fell 5.2 per cent to CHF 164.3m ($203m), while those to mainland China declined 14.2 per cent to CHF 130.1m ($160m). Shipments to the United Arab Emirates fell 9 per cent.

By price category, watches with export prices above CHF 3,000 rose 9.9 per cent. Exports of watches priced below CHF 500 climbed 39.5 per cent.

Exports to France also rose sharply to CHF 246.5m ($304m), although this is unlikely to reflect a comparable rise in consumer demand. The federation said the increase probably reflects changes in trade flows between European markets, with France gaining at the expense of other countries in the region.