Swiss watch and gold export trends

In September 2026, the Swiss watch industry reported an 11.7 percent increase in exports, totaling 2.23 billion francs. This growth follows three consecutive months of expansion, bringing the total for the first nine months of the year to 19.5 billion francs, a 2.7 percent increase.

Growth in the watch sector was driven significantly by the United States, where exports surged by approximately 86 percent. This spike is attributed to a favorable base effect following the imposition of 39 percent US tariffs on Swiss goods in August 2025, as well as manufacturers shifting products to the US to mitigate costs. Other notable markets included Japan, which saw a 12.3 percent increase, while exports to China declined by 14.2 percent.

Additionally, Swiss gold exports rose by 5.5 percent from August to reach 165.2 tonnes, valued at approximately 19.9 billion euros. The United Kingdom was identified as the primary destination for these gold exports, receiving 126 tonnes.

Data from the Federal Office for Customs and Border Security (BAZG) regarding the third quarter of 2026 indicates that total Swiss exports rose by 2.6 percent to 75 billion Swiss francs, while imports reached a record high of 61 billion francs. The chemical and pharmaceutical industries remained primary drivers, accounting for over half of total exports.