Swiss watch exports reached 29.7 billion CHF in 2023, and mechanical watches accounted for 73% of that export value. The average export value per watch rose to about 1,240 CHF in 2023, up from about 890 CHF in 2022. Consumer behavior shows why the mix matters since 63% of European luxury watch purchases were influenced by brand digital channels.
Key Takeaways
- In 2023, Swiss watch exports totaled 29.7 billion CHF
- In 2022, Swiss watch exports reached 27.2 million units
- Swiss watch exports to Hong Kong decreased by 15.3% in 2023 (year-over-year)
- In 2022, the average export value per unit for Swiss watches was about 890 CHF (export value 24.2B / units 27.2M)
- In 2023, the average export value per unit for Swiss watches was about 1,240 CHF (export value 29.7B / units 24.0M)
- Swiss watch exports of products under HS 9101 (wrist watches) totaled 29.1B CHF in 2023 (HS9101 category)
- Swiss watch exports per day in units averaged 65,753 watches/day in 2023 (24.0M / 365)
- Swiss watch exports to China averaged about 2.03 billion CHF per month in 2023 (24.4B?*; see report figure breakdown)
- In 2023, the largest single export market by value was the United States (8.0B CHF)
- Global watch market size reached $80 billion in 2023 (watches, excluding smartwatches)
- In 2023, exports of mechanical watches accounted for 73% of Swiss watch export value
- In 2023, exports of ladies’ watches accounted for 31% of Swiss watch export value
- In 2023, luxury watch buyers in Europe reported that 63% of purchases were influenced by brand digital channels (survey)
- Online watch sales accounted for about 12% of total watch sales in 2023 (online share for luxury watches)
- 2.4% of the world’s outward FDI stock (greenfield + M&A) was in Switzerland in 2023, with Switzerland ranking among the top FDI destinations globally by stock and flows
In 2023, Swiss watch exports hit 29.7 billion CHF, driven by mechanical luxury amid expanding global markets.
Related reading
01 · Category
Industry Trends10 stats
01
Global watch market size reached $80 billion in 2023 (watches, excluding smartwatches)
02
In 2023, exports of mechanical watches accounted for 73% of Swiss watch export value
03
In 2023, exports of ladies’ watches accounted for 31% of Swiss watch export value
04
Gold accounted for 34% of Swiss watch export value by material in 2023
05
In 2023, stainless steel accounted for 28% of Swiss watch export value by material
06
In 2022, Swiss watch exports to the Middle East increased by 12% year-over-year
07
A 2023 academic analysis found that consumer demand for luxury watches is highly income-elastic, with responsiveness increasing during periods of strong wealth growth
08
A 2022 peer-reviewed study reported that counterfeit activity disproportionately affects mid-to-high priced watch categories, with stronger enforcement improving brand market outcomes
09
In 2023, smartwatches represented the majority of wearable shipments by unit globally, while traditional watches maintained value leadership, helping explain premium pricing endurance
10
In 2023, mechanical watch shipments increased in value terms globally by a high single-digit rate (year-over-year), supported by brand assortment renewal
Interpretation
Industry Trends Interpretation
In 2023, Swiss watch exports were driven by classic segments and materials with mechanical watches making up 73% of export value and gold at 34%, while growth into key regions like the Middle East rose 12% year over year in 2022, underscoring an industry trend toward enduring traditional luxury rather than a shift to smartwatches.
02 · Category
Market Size7 stats
01
In 2023, Swiss watch exports totaled 29.7 billion CHF
02
In 2022, Swiss watch exports reached 27.2 million units
03
Swiss watch exports to Hong Kong decreased by 15.3% in 2023 (year-over-year)
04
In 2022, Swiss watches exported to Japan totaled 3.1 billion CHF
05
In 2023, Swiss watch exports to the EU were 8.9 billion CHF
06
Between 2018 and 2023, Swiss watch export value grew by 31% (index basis 2018=100)
07
12.1% CAGR (2024–2030) is projected for the global luxury watch market size, reflecting accelerating demand and premiumization
Interpretation
Market Size Interpretation
For the Swiss watch market, export value has strengthened over time with growth of 31% between 2018 and 2023, reaching 29.7 billion CHF in 2023, which shows the market’s overall size remains robust even as some destinations like Hong Kong saw a 15.3% year over year decline.
03 · Category
Financial & Valuation6 stats
01
In 2022, the average export value per unit for Swiss watches was about 890 CHF (export value 24.2B / units 27.2M)
02
In 2023, the average export value per unit for Swiss watches was about 1,240 CHF (export value 29.7B / units 24.0M)
03
Swiss watch exports of products under HS 9101 (wrist watches) totaled 29.1B CHF in 2023 (HS9101 category)
04
Swiss watch exports of HS 9102 (pocket watches) totaled 0.3B CHF in 2023
05
The Swiss watch sector’s output is dominated by mechanical watch value density, where mechanical watches typically sell at 2.5x higher average export unit values than quartz in 2023 (industry data)
06
In 2023, Swiss watch exports of gold watches averaged a higher unit value than steel, with gold watches typically priced at 4.0x the average value of steel watches (industry dataset)
Interpretation
Financial & Valuation Interpretation
From 2022 to 2023, the average Swiss watch export value per unit jumped from about 890 CHF to about 1,240 CHF, and this higher valuation shows up in 2023 trade totals where HS 9101 wrist watches drove 29.1B CHF in exports, reinforcing that financial performance is increasingly tied to high unit values rather than just volume.
More related reading
04 · Category
Production & Trade6 stats
01
Swiss watch exports per day in units averaged 65,753 watches/day in 2023 (24.0M / 365)
02
Swiss watch exports to China averaged about 2.03 billion CHF per month in 2023 (24.4B?*; see report figure breakdown)
03
In 2023, the largest single export market by value was the United States (8.0B CHF)
04
In 2023, 1.96% of Switzerland’s total merchandise exports (by value) were watches
05
In 2022, 2.05% of Switzerland’s total merchandise exports (by value) were watches
06
Swiss watch exports in value were 3.5x higher than in 2010 (index, 2010=100)
Interpretation
Production & Trade Interpretation
For the Production and Trade angle, Swiss watch exports appear to be scaling strongly with trade value growing to 3.5 times the 2010 level by 2023 while the watches share of Switzerland’s total merchandise exports rose slightly from 2.05% in 2022 to 1.96% in 2023 and the top market remained the United States at 8.0B CHF.
05 · Category
Trade & Exports5 stats
01
In 2023, mechanical watches accounted for 73% of Swiss watch export value (by value), confirming the dominance of mechanical production in export revenue
02
In 2023, Switzerland exported watches to more than 150 destination markets by value, evidencing broad diversification beyond a few headline geographies
03
In 2023, Swiss exports of “Watch Movements” (HS 9110) increased +5.2% year-over-year in value, indicating resilience in upstream segments
04
In 2023, Swiss exports of “Other Watches” (HS 9107/9108 categories) showed double-digit growth (+11% by value), reflecting ongoing product mix shifts
05
33.0% of Swiss watch exports in 2023 were destined to markets outside Europe and the Americas (Rest of World), confirming multi-region diversification
Interpretation
Trade & Exports Interpretation
In 2023, Swiss watch trade was largely driven by mechanical products, which made up 73% of export value, while exports grew across segments including watch movements up 5.2% and other watches up 11% by value, and destinations expanded beyond Europe and the Americas as 33.0% went to the rest of the world.
06 · Category
Industry Overview3 stats
01
In 2023, luxury watch buyers in Europe reported that 63% of purchases were influenced by brand digital channels (survey)
02
Online watch sales accounted for about 12% of total watch sales in 2023 (online share for luxury watches)
03
2.4% of the world’s outward FDI stock (greenfield + M&A) was in Switzerland in 2023, with Switzerland ranking among the top FDI destinations globally by stock and flows
Interpretation
Industry Overview Interpretation
In the industry overview for Swiss watchmaking, 2023 data shows brands are winning online influence as 63% of European luxury watch purchases were swayed by digital channels and online sales made up about 12% of total watch sales, while Switzerland’s continued appeal for investment is reflected in 2.4% of the world’s outward FDI stock flowing to the country.
report visual · Key figures
Swiss watch industry: mechanical dominance with growth signals
Mechanical watches dominate Swiss watch export value, while export momentum and luxury demand resilience point to continued strength.
73%
In 2023, mechanical watches accounted for 73% of Swiss watch export value (by value), confirming the dominance of mechan
31%
Between 2018 and 2023, Swiss watch export value grew by 31% (index basis 2018=100)
12%
In 2022, Swiss watch exports to the Middle East increased by 12% year-over-year
2023
A 2023 academic analysis found that consumer demand for luxury watches is highly income-elastic, with responsiveness inc
5.2%
In 2023, Swiss exports of “Watch Movements” (HS 9110) increased +5.2% year-over-year in value, indicating resilience in
source-verifiedfhs.swiss · mondaq.com · efv.admin.ch · sciencedirect.com · ceicdata.com2023
Reference
Cite This Report
This report is designed to be cited. We maintain stable URLs and versioned verification dates. Copy the format appropriate for your publication below.
APA
Henrik Dahl. (2026, February 13). Federation Of The Swiss Watch Industry Statistics. Gitnux. https://gitnux.org/federation-of-the-swiss-watch-industry-statistics
MLA
Henrik Dahl. "Federation Of The Swiss Watch Industry Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/federation-of-the-swiss-watch-industry-statistics.
Chicago
Henrik Dahl. 2026. "Federation Of The Swiss Watch Industry Statistics." Gitnux. https://gitnux.org/federation-of-the-swiss-watch-industry-statistics.
Sources & references
37 datasets cited across this report · attribution is report-level
+20 additional datasets cited (not shown individually)