Swiss watch exports fell 2.8% in 2024, according to the Federation of the Swiss Watch Industry FH’s annual release, which put the total at CHF 26.0 billion. The decline was sharper in the number of watches shipped: exports fell 9.4% to 15.3 million units. FH’s December report listed the year’s total as CHF 25.9 billion, also down 2.8%; the later annual release uses CHF 26.0 billion. These are export figures, not a measure of what consumers bought at retail.
How much did Swiss watch exports decline in 2024?
FH’s January 30, 2025 annual release reported total Swiss watch exports of CHF 26.0 billion, down 2.8% from 2023. Watches accounted for CHF 24.8 billion of that total, also down 2.8%. In volume, the industry exported 15.3 million watches, 1.6 million fewer than the previous year and a 9.4% decline. FH’s annual 2024 statistics provide the segment and market details.
The CHF 25.9 billion figure comes from FH’s December 2024 monthly release, which also stated that full-year exports fell 2.8%. The January annual release subsequently reported CHF 26.0 billion. FH does not explain the difference, so the safest reading is to preserve the figures as published and use the later annual release for annual analysis. The 3% wording is a rounded description of the reported 2.8% decline.
Why did Swiss watch exports fall in 2024?
The decline was not evenly spread across the market. Lower-priced exports weakened substantially, while the higher-priced segment edged up. FH described 2024 as a year of marked contrasts and cited weaker demand heavily influenced by China and Hong Kong, stronger competition in entry-level and mid-range watches, and slower demand for luxury personal items, particularly among aspirational customers. These are FH’s explanations for the export results, not a direct measure of consumer behavior in every market.
Do these 3 things before closing this tab:
1Repair Windows errors before they cause bigger problems2Fix the driver behind crashes, sound loss and screen glitches3Clear out junk files and repair common Windows errors#1 Best Overall
- Swatch Neon Collection
- Watch Size: 47mm round case with push/pull crown
- Water Resistance: 100 Feet
- 2 Year International Warranty
- Free battery exchange at Swatch retail locations
Lower-priced exports contracted; higher-priced exports grew slightly
Export turnover for watches priced below CHF 3,000 fell 15.6% in 2024. Turnover above CHF 3,000 rose 1.0% and represented more than 80% of total export value. The split helps explain how total value declined less than unit volume: the higher-priced category accounted for most of the value and performed better than the lower-priced one.
Materials showed different value and volume patterns
Steel watches fell 9.8% by export value. Precious-metal watches rose 2.2% by value even as their exported unit volume fell 5.1%. The gap between the value and unit changes is a reminder that export revenue and the number of watches shipped measure different things.
Rank #2
- Stainless Steel case with Black Resin Band
- Black Dial with date window at 3 O'clock
- Luminous markers and hour hands; sweep second hand
- Anti-reverse bezel
- Water-resistant to 200 M (660 feet)
Which markets drove the decline?
Asia was the largest regional drag, while the Americas grew and Europe was almost flat. FH’s 2024 regional and destination-market figures show the contrast:
| Region or market | Change in 2024 | Context |
|---|---|---|
| Asia | Down 7.6% | China and Hong Kong were major sources of weakness. |
| China | Down 25.8% | One of the sharpest declines among major destination markets. |
| Hong Kong | Down 18.7% | Also contracted sharply. |
| North and South America | Up 5.4% | Represented one fifth of Swiss watch exports. |
| United States | Up 5.0% | Growth in the US did not offset the declines in China and Hong Kong. |
| Europe | Down 0.1% | Close to flat overall. |
| Japan | Up 7.8% | Grew despite the broader contraction in Asia. |
The regional figures are not interchangeable with individual-country results: for example, Japan’s increase did not prevent Asia from declining overall. The source for these comparisons is FH’s annual release.
Free tools Windows power users keep installed
One-click scans. No signup required.
Rank #3
- Case Size: 40.00 mm, Band Width: 12, Case Thickness: 10.93 mm
- Automatic movement, 316L stainless steel case, Index dial type, Date
- Stainless steel strap/bracelet, interchangeable quick release bracelet,butterfly clasp with push-buttons closure
- Water-resistant up to a pressure of 10 bar (100 m / 330 ft)
- 2 Year International Warranty
Do these figures mean Swiss watch sales fell 3%?
No. The statistic measures exports, not end-consumer sales. FH explicitly says its figures refer to export data rather than sales to end consumers in its annual statistics and December 2024 release. Export totals indicate shipments leaving Switzerland; they do not establish how many watches retailers sold, how much inventory remained in shops, or how individual brands performed.
The aggregate also cannot be treated as a result for any one watchmaker. FH cautions that export statistics only partially reflect differences among firms and do not directly measure subcontracting, which is primarily focused on the Swiss market. FH notes that published figures can be revised or adjusted, with the latest publications prevailing.
What happened to Swiss watch exports after 2024?
The next full-year result also declined. FH’s January 29, 2026 release reported 2025 Swiss watch exports of CHF 25.6 billion, down 1.7% from 2024 and marking a second consecutive annual decline. FH attributed the 2025 environment to uncertainty, US trade policy, weakness in China and Hong Kong, and rising gold and Swiss franc prices; those factors describe 2025 and should not be read as an explanation of the 2024 result. See FH’s 2025 annual statistics.
Quick Recap
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
