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The Federation of the Swiss Watch Industry FH reported record total watchmaking exports of 26.7 billion Swiss francs in 2023, up 7.6% from 2022. That is a historical record, not the latest annual result: the FH reported 26.0 billion francs in 2024 and 25.6 billion in 2025. These are export values, not the amount consumers spent at retail.
What the 26.7 billion franc figure measures
The FH’s January 30, 2024 release put total Swiss watchmaking exports in 2023 at 26.7 billion francs. The total covered exports by Swiss watchmaking firms; it should not be read as retail sales or as the consumer value of watches sold. The Federation reports values at export prices, based on exporters’ declarations, and says customs data may be revised. Its statistics methodology and data explain the scope.
Wristwatches were one component of that total. The FH reported 25.5 billion francs in wristwatch exports for 2023, up 7.7% year over year, and 16.9 million wristwatches exported, up 7.2%. The distinction matters: the 26.7 billion figure is for total watchmaking exports, not wristwatches alone.
How exports changed after the 2023 record
| Year | Total exports | Annual change | Wristwatch exports and volume |
|---|---|---|---|
| 2023 | 26.7 billion francs | +7.6% vs. 2022 | 25.5 billion francs; 16.9 million watches, up 7.2% |
| 2024 | 26.0 billion francs | -2.8% vs. 2023 | Not stated in the cited annual summary |
| 2025 | 25.6 billion francs | -1.7% vs. 2024 | 24.4 billion francs, down 1.7%; 14.6 million watches, down 4.8% |
Figures are from the FH’s 2023 release, 2024 release and 2025 release. The 2024 wristwatch values and volumes are not stated in the cited annual summary, so they are not inferred here.
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What happened in the 2025 export markets
The FH’s January 29, 2026 annual release reported mixed results by destination for 2025, compared with 2024. The United States accounted for 17% of Swiss watch exports and ended the year down 0.5%. China fell 12.1% and Hong Kong 6.5%; Asia overall declined 3.8%. Europe was down 0.3%, while America grew 0.3%.
The Federation cited US trade policy and continued weakness in China and Hong Kong as factors in a year of uncertainty and demanding market conditions. That is the FH’s interpretation of the market context, not a finding that explains the performance of any particular brand.
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What the totals do—and do not—say about watch brands
The FH’s consolidated statistics cover Swiss watchmaking firms as an industry. They do not establish how an individual brand or corporate group performed, and export figures cannot be treated as equivalent to consumer demand, retail sell-through or revenue recognized by a particular company. The Federation says it represents around 500 members—more than 90% of Swiss firms active in producing and selling watches, clocks and components—so its statistics are broad industry measures, but they remain export statistics. Its organization profile describes its membership.
Because customs data may be revised, the FH says the most recent publication prevails. The latest annual result covered here is 2025; the Federation’s statistics page listed the next release for October 20, 2026.
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