Swiss Watch Exports Rise 9.1% as Global Luxury Market Splits

TDT | Manama

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Swiss watch exports rose 9.1% year-on-year in August, reaching 1.79 billion Swiss francs ($2.1 billion), according to the Federation of the Swiss Watch Industry (FH). The increase marked the industry's fourth consecutive month of growth and helped push its 12-month moving average into positive territory for the first time in two years.

The strong performance, however, was uneven across major markets. Exports to Japan surged 22.1%, while shipments to China rose 15.8%, supported by stronger luxury demand and tourism.

The US market recorded a sharp decline, with Swiss watch exports falling 19.4%. Industry concerns over potential trade tariffs have contributed to greater caution among brands and distributors.

European markets posted significant gains. Exports to the UK climbed 46.1%, while Germany recorded a 34% increase. France saw exports surge 113.5%, although the FH noted that the figure was influenced by France's role as a major distribution hub.

By price category, watches priced below CHF 200 recorded the strongest growth, rising 13.3%. Watches above CHF 3,000 increased 10.2% in value, while the mid-market segment, covering watches priced between CHF 500 and CHF 3,000, declined 0.9%.

Overall, Swiss watch exports increased 1.7% during the first eight months of the year, highlighting a recovery that remains uneven across markets and price segments.