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Swiss watch exports remained broadly stable in May 2026, posting marginal growth of 0.4 per cent year-on-year to reach CHF 2.1 billion (USD 2.63 billion), according to data released by the Federation of the Swiss Watch Industry FH. The result helped ease the cumulative decline recorded during the first five months of the year, which now stands at 3.1 per cent.
The industry body said May was a "steady month", with exports of wristwatches rising 0.6 per cent in value terms to CHF 2.01 billion, even as the number of watches shipped fell by 1.2 per cent to 1.16 million units. Overall exports, including other watchmaking products, totalled CHF 2.105 billion (USD 2.63 billion). Performance across product categories was mixed. Exports of gold-steel watches registered the strongest growth, surging 34 per cent in value to CHF 408 million (USD 510.4 million). Watches made from other metals also performed well, with export value increasing 14.7 per cent. However, these gains were partly offset by weaker demand for traditional high-value segments. Exports of precious metal watches declined 7.2 per cent to CHF 744.1 million (USD 930.2 million), while steel watches fell 5.4 per cent to CHF 649.8 million (USD 811.7 million). In volume terms, steel watch shipments dropped 9.6 per cent, contributing significantly to an overall reduction of nearly 14,000 watches exported during the month. Price segments also showed divergent trends. Watches with export prices above CHF 3,000 (USD 3747) recorded value growth of 3.7 per cent, while products priced between CHF 500 (USD 624) and CHF 3,000 (USD 3747) contracted sharply by 17.2 per cent. Meanwhile, watches in the CHF 200-500 (USD 250-624) range saw robust growth of 23.6 per cent. Among key export destinations, the United States remained the largest market, with exports rising 12.3 per cent to CHF 301.5 million (USD 376.7 million). France emerged as the second-largest market, recording a remarkable 57 per cent increase to CHF 190.7 million (USD 238.3 million), largely due to its role as a logistics hub since December 2025, the FH said. The United Kingdom also posted strong growth of 24.9 per cent, while Hong Kong continued its gradual recovery with a 3.4 per cent increase. In contrast, China remained a drag on overall performance, with exports falling 21.4 per cent to CHF 130.1 million (USD 162.6 million), highlighting continued volatility in the market. Japan recorded a 3.5 per cent decline, while the United Arab Emirates and Germany also registered significant decreases of 13.5 per cent and 18 per cent, respectively. (ANI)
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