Swiss Watch Industry Federation (FH) Export Market Dynamics Analysis for July 2025

May Analysis via this link
July Watch Market Review

Here is the translation:

Overall Situation

• Product Categories
• Performance of Watches by Material
• Major Markets
• Watches Classified by Price
• Market Trend Analysis
• Summary

In July 2025, the total export value of Swiss watches increased by 6.9%, reaching 2.3987 billion Swiss francs, mainly driven by tariff uncertainties in the U.S. market (+45.0%), with significant contributions from steel and bi-metal watches, as well as products in the mid-to-high price range. However, excluding the impact of the U.S., exports declined by 0.9%, with Asian markets (e.g., China -6.5%, Japan -10.1%) continuing to be sluggish. This reflects the Swiss watch industry’s reliance on external policy factors, while structural demand still faces challenges.

Comparison with the First Few Months of 2025 (Based on Public Data)

Cumulative for the First 7 Months: Overall growth of about 1-2%, significantly affected by U.S. tariff fluctuations, with the Asian market continuing to drag down performance; high-end products showed relative resilience.

January: Growth of 4.1%, total value approximately 1.99 billion CHF, stable start.

February: Decrease of 8.2%, total value 1.9827 billion CHF, weakness in China and Hong Kong (China -25.0%).

March: Growth of 1.5%, total value approximately 2.1 billion CHF, slight overall decrease in the first three months.

April: Growth of 18.2%, total value 2.549 billion CHF, surge in the U.S. by 149.2% (also due to preemptive shipments because of tariffs).

May: Decrease of 9.5%, total value 2.1 billion CHF, significant drops in the U.S. and China, reversing the gains of April.

June: Decrease of 6%, total value 2.15 billion CHF, continued weakness.

July: Growth of 6.9%, but reliant on short-term factors from the U.S.。