Switzerland’s prestigious watch industry began 2026 on a subdued note, with exports in January falling 3.6 percent year-on-year to CHF 1.92 billion (US$2.49 billion), according to the latest figures from the Federation of the Swiss Watch Industry (FHS). The decline followed a brief uptick in December, when shipments rose 3.3% after four consecutive months of contraction.
The United States was the main drag on performance, with exports tumbling 14 percent to CHF 325.9 million (US$422 million), despite Washington’s decision late last year to reduce tariffs on Swiss imports from 39 percent to 15 percent. Analysts noted that many brands front-loaded shipments ahead of the tariff change, leaving little momentum in early 2026.
By contrast, several Asian markets showed encouraging signs. Exports to Hong Kong rose 2.6 percent, while those to mainland China climbed 5 percent, signalling a gradual recovery in the region. France posted a robust 37% increase, and exports to the United Arab Emirates were up 8 percent.
Watches priced between CHF 500 and CHF 3,000 recorded the strongest growth, advancing 18 percent, while high-end models above CHF 3,000 fell 8 percent. Industry observers say renewed demand across Asia could help stabilise the Swiss watch sector after a hesitant start to the year. (Photo courtesy: FHS)
10-03-2026
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