PARIS – Winter is far from over for Swiss watches as the market continued to cool in February.
Exports in the month contracted by 8.2 percent in value and 7.7 percent in volume to 1.98 billion Swiss francs, according to figures released by the Federation of the Swiss Watch Industry on Thursday.
The industry organization said it was a “marked slowdown in an uncertain climate,” affecting its top six markets and all material categories to various degrees.
Monthly export tallies had seen a slight improvement in January, but February’s poor performance amounted to an overall decline of 2.4 percent in the first two months of 2025.
The U.S. continued to lead as the top market for Swiss timepieces. But the recorded 6.7 percent year-on-year decline in February eroded the gains of the past two years for the country.
American consumers’ confidence has fall in recent months, according to surveys by the The University of Michigan Surveys of Consumers as households cautiously feel their way around inflation and rapidly-evolving economic policies.
But February’s downturn in Swiss watch exports also affected most top markets, with Japan slipping back to sixth place due to a 19 percent tumble. Back in second and third position, Hong Kong and China continued on their downward trend, dropping 12.5 and 25 percent respectively.
The month’s downturn affected all materials to varying degrees in volume with 102,000 fewer watches were exported overall in the month. The “Other Metals” category was most affected in volume, contracting by nearly a quarter while “Other Materials” experienced a very modest 0.7 percent increase.
By price segment, all segments declined in volume, with the 500 to 3,000 Swiss francs range slumping the most at 19.7 percent. Meanwhile in value, only entry-level watches, at 200 Swiss francs at export price, grew in February.
