Swiss watch exports drop in February on weak demand in China, US

Swiss watch exports’ downward trajectory resumed in February after a one-month respite, with all main markets seeing a decline. Shipments from Switzerland’s third-biggest exporting industry fell 8.2% overall, hampered by slow demand in China, the Federation of the Swiss Watch Industry said today. In total, 102,000 fewer watches were exported. Only watches with an export price below 200 Swiss francs ($228) posted a positive result. Mid-market watches — priced between 500 and 3,000 francs — fell 15.4%, while timepieces above 3,000 francs slipped 7.3%. Precious metal watches held up better than steel watches, despite high gold prices. Swiss watch market faces challenges after pandemic boom The figures highlight persistently tough conditions for Swiss-based watchmakers controlled by the likes of Richemont, Swatch Group and LVMH, as well as independents including Audemars Piguet, Patek Philippe and Rolex after a boom during the pandemic. Exports were down 3% last year. Even the U.S. market, which had previously held up, faltered in February with shipments down 6.7%. The data “may fuel ongoing investor concerns around U.S. luxury demand moderation,” RBC analyst Piral Dadhania said in a note. U.S. consumer confidence fell the most since August 2021 last month on concerns about the outlook for the broader economy, indicating that uncertainty over President Donald Trump’s policies is weighing on consumer spending. By Allegra Catelli

Swiss watch exports drop in February on weak demand in China, US

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Published March 20, 2025

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Swiss watch exports drop in February on weak demand in China, US