In September, the value of Swiss watch exports grew by 11.7% compared to the same period last year, reaching 2.226 billion Swiss francs ($2.74 billion). This marks the fourth consecutive month of growth.
These figures are primarily due to a surge in shipments to the United States, which jumped by 85.7% to 292.9 million Swiss francs ($361 million). This spike is partly explained by a sharp decline that occurred a year earlier, amid uncertainty surrounding the potential imposition of 39% tariffs on Swiss goods by Washington.
The recovery of the U.S. market was a key driver of the overall growth, accounting for approximately 57% of the total year-on-year increase in Swiss watch exports.
According to the Federation of the Swiss Watch Industry (FHS), exports for the first nine months of 2026 reached 19.5 billion Swiss francs ($23.6 billion), an increase of 2.7% over the same period last year.
Among other major markets, exports to Japan grew by 12.3% to 177.3 million Swiss francs ($219 million), while shipments to Hong Kong rose by 3% to 160.5 million Swiss francs ($198 million). Exports to the United Kingdom fell by 5.2% to 164.3 million Swiss francs ($203 million), while shipments to mainland China dropped by 14.2% to 130.1 million Swiss francs ($160 million). Deliveries to the United Arab Emirates declined by 9%.
Broken down by price category, exports of watches priced above 3,000 Swiss francs rose by 9.9%. Shipments of watches priced under 500 Swiss francs increased by 39.5%. Export volume to France also saw a sharp rise, reaching 246.5 million Swiss francs ($304 million).
According to the federation, this growth likely reflects a shift in trade flows between European markets, with France strengthening its position at the expense of other countries in the region.
Hélène Tarin, Editor-in-Chief of the Asian Bureau, Rough&Polished
