Swiss Watch Exports to U.S. Drop Slightly in March

By Karen Dybis | April 21, 2026

Swiss watch exports in March declined 1.6% to the United States and 1% overall, the Federation of the Swiss Watch Industry (FH) said Tuesday.

FH’s monthly export statistics showed significant drops year-over-year for several countries, including Germany (down 8.5%), Japan (12.6%), and Saudi Arabia (16.8%). However, FH noted, the Middle East conflict has not yet affected imports to the United Arab Emirates, which increased 0.7%.

Most of the Swiss watch industry’s main markets besides the U.S. improved in March year-over-year, with exports to Singapore rising 4.9%; China up 4.2%; the U.K., 3.2%; and Hong Kong at 0.5%.

France showed an unusually high 72.4% increase in March, but FH said that was not actual market growth—it reflects re-exports to other destinations.

March sales of Swiss watches were down in most price segments, according to FH, with the only exceptions at the lower end: Watches priced at 200 to 500 Swiss francs ($256–$641) grew 15.4%.

Swiss watch exports to the U.S. had risen 26.8% year-over-year in February, when FH reported an overall increase of 9.2%—a return “to growth following a lackluster start to the year,” the association said. Other strong results for February came from Japan (up 23.7%) and the United Kingdom (10% increase).

For the first quarter, Swiss watch exports improved 1.4% worldwide in 2026 compared with 2025, FH said, with the U.S. up 2.8% but Japan down 0.4%, Hong Kong declining 0.8%, and China falling 0.7%.

“Manufacturers will be encouraged to see China and Hong Kong stabilize this year following a slump in exports to what were the two largest markets in the world in the 2010s,” WatchPro noted in its FH coverage.

The Swiss watch numbers taken in context with last week’s first-quarter reports from LVMH, Kering, and Hermès suggest that the luxury industry would benefit from focusing on watches and fine jewelry, products with a long life cycle, says Mario Ortelli, managing partner of Ortelli & Co., a London-based luxury strategy and advisory firm.

“Consumers are increasingly shifting their preferences toward investment pieces that are iconic, enduring, and likely to retain resale value. In response, luxury brands are adapting their strategies by focusing on timeless collections and becoming more selective with seasonal launches,” Ortelli tells JCK.

“I expect this momentum to continue, supported by ongoing investment from jewelry maisons like Van Cleef & Arpels and Bulgari to refresh their collections, increased focus from fashion houses such as Gucci and Prada on developing their jewelry lines, and the continued expansion of retail networks.”

(Photo: Getty Images)