US Surge Bumps Swiss Watch Exports

(IDEX Online) - Swiss watch exports showed signs of recovery in February, increasing by 9.2% year‑on‑year after a 3.6% drop in January.

Total sales reached CHF 2.2 bn (USD 2.77 bn), up from CHF 1.9 bn (USD 2.41 bn) the previous month, according to the Federation of the Swiss Watch Industry (FHS).

The increase was partly influenced by a positive base effect, as February 2025 was the weakest month in over a year, with exports down 8.2% year‑on‑year and marked declines in the US and Asia.

However, it was mainly the very strong growth in three of the main markets - the USA, Japan and France - that tipped the balance.

"Performance was particularly strong in the United States (+26.8%), which continues to seesaw, Japan (+23.7%) and France (+57.1%), for the third consecutive month," said the FHS.

The US, as Switzerland's largest watch market, has been swinging sharply month‑to‑month due to fears of tariffs and trade policy changes under President Trump's administration.

The surge in sales to France reflects some increase in local demand, but is more likely due to the transit of watches via France to other European destinations.

By contrast, Hong Kong exports were down by 5.2% and sales to China fell by 11.0%, following on from increases the previous month of 3.6% and 5.0% respectively.

The Federation described demand in Hong Kong and China as "fragile", despite the positive January figures.