Gitnux/Report 2026

Swiss Watch Industry Statistics

Swiss watch exports climbed to 26.7 billion CHF in 2023 while production slipped to 17.8 million watches, down 12.4% from the year before. Find out how rising prices, shifting workforces across regions like the Jura, and big brand momentum from Rolex and Omega are reshaping a sector that still employs 47,800 full time equivalents.
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Swiss Watch Industry Statistics
Priya ChandrasekaranWritten by Priya Chandrasekaran·Edited by Nathan Caldwell·Fact-checked by Peter Sandoval
Last verified Jul 6, 2026
Verified via a 4-step process
01Source

Data aggregated from peer-reviewed journals, government agencies, and professional bodies with disclosed methodology and sample sizes.

02Verify

Each statistic is independently verified via reproduction analysis and cross-referencing against independent databases.

03Grade

Figures are graded by cross-model consensus. Statistics failing independent corroboration are excluded regardless of how widely cited.

04Cite

Every figure carries a primary source. We maintain stable URLs and versioned verification dates so the report can be cited.

Read our full methodology →

Statistics that fail independent corroboration are excluded.

Next review Jan 2027
Swiss watch exports hit 26.7 billion CHF in 2023, climbing 2% even as production slid to 17.8 million watches, down 12.4% year over year. At the same time, the industry still posted 12.5 billion CHF in value added and spent 1.2 billion CHF on R&D, highlighting a market that is changing shape rather than standing still. These latest figures help explain the tension between where Swiss watchmaking employs people and where its demand is flowing.

Key Takeaways

  • The number of watch enterprises in Switzerland was 1,462 in 2023.
  • Value added by the Swiss watch industry was 12.5 billion CHF in 2022.
  • Total turnover of the watch industry reached 27.1 billion CHF in 2023.
  • Employment in the Swiss watch industry stood at 47,800 full-time equivalents in 2023.
  • Workforce in watchmaking assembly decreased by 3.5% to 19,200 in 2023.
  • Micro-mechanical production employed 8,500 people in 2023.
  • In 2023, Swiss watch exports totaled 26.7 billion Swiss francs, marking a 2% increase from 2022.
  • The average export price per Swiss watch in 2023 was 25,062 Swiss francs, up 17.7% year-over-year.
  • Exports of Swiss watches to the USA reached 5.2 billion CHF in 2023, representing 19.5% of total exports.
  • Rolex accounted for 31.8% of Swiss watch exports by value in 2023.
  • Omega brand exports grew by 12% in value in 2023.
  • Cartier held 10.2% market share in Swiss luxury watch exports in 2023.
  • Switzerland produced 17.8 million watches in 2023, down 12.4% from the previous year.
  • Swiss watch production volume fell to 6.0 million units in the first half of 2024, a 17.8% decline.
  • Mechanical watches comprised 52% of Swiss watch production volume in 2023.

In 2023, Swiss watch exports rose to 26.7 billion CHF as production and assembly employment declined.

Related reading

01 · Category

Economic Contribution13 stats

01
The number of watch enterprises in Switzerland was 1,462 in 2023.
02
Value added by the Swiss watch industry was 12.5 billion CHF in 2022.
03
Total turnover of the watch industry reached 27.1 billion CHF in 2023.
04
R&D spending in Swiss watchmaking was 1.2 billion CHF in 2022.
05
Export value per capita in watch industry reached 3,000 CHF in 2023.
06
Total active companies in watchmaking: 1,377 in 2022.
07
Industry contributed 5.5% to Swiss industrial exports in 2023.
08
Tax revenue from watch industry: 2.8 billion CHF in 2022.
09
Richemont watch division revenue 6.4 billion EUR in FY2023.
10
Bernese Jura 22% of watch enterprises in 2023.
11
Total industry investments: 1.8 billion CHF in 2022.
12
Swatch Group revenue from watches: 5.9 billion CHF in 2023.
13
Solo enterprises: 62% of total watch firms in 2023.
Interpretation

Economic Contribution Interpretation

In the economic contribution of Swiss watchmaking, the sector generated 27.1 billion CHF in turnover in 2023 and 12.5 billion CHF in value added in 2022, supported by a strong base of 1,377 active companies in 2022 and continued investment of 1.2 billion CHF in R&D.

02 · Category

Employment And Workforce15 stats

01
Employment in the Swiss watch industry stood at 47,800 full-time equivalents in 2023.
02
Workforce in watchmaking assembly decreased by 3.5% to 19,200 in 2023.
03
Micro-mechanical production employed 8,500 people in 2023.
04
Jura region accounted for 42% of watch industry employment in 2023.
05
Employment in cases and bracelets: 4,100 in 2023.
06
Geneva canton hosts 28% of watch firms in 2023.
07
Dial production employment: 2,300 in 2023.
08
Neuchâtel region 35% of employment in 2023.
09
Hands production employed 1,800 workers in 2023.
10
Jewels setting employment: 3,200 in 2023.
11
Movements assembly workforce: 12,400 in 2023.
12
Vaud canton 15% employment share in 2023.
13
Engraving and decoration employment: 2,500 in 2023.
14
Research personnel in watchmaking: 2,100 in 2023.
15
Industry apprentices: 4,500 in training 2023.
Interpretation

Employment And Workforce Interpretation

In 2023, Swiss watch employment totaled 47,800 full-time equivalents while assembly work fell 3.5% to 19,200, showing a shifting workforce alongside the continued dominance of the Jura region at 42% of jobs.

03 · Category

Export Statistics30 stats

01
In 2023, Swiss watch exports totaled 26.7 billion Swiss francs, marking a 2% increase from 2022.
02
The average export price per Swiss watch in 2023 was 25,062 Swiss francs, up 17.7% year-over-year.
03
Exports of Swiss watches to the USA reached 5.2 billion CHF in 2023, representing 19.5% of total exports.
04
Total Swiss watch export value grew 15.8% in 2022 to 24.8 billion CHF.
05
Quartz watches exports surged 28% in volume in 2023.
06
Number of exported watches dropped 20.6% to 13.6 million units in 2023.
07
Hong Kong absorbed 22.4% of Swiss watch exports by value in 2023.
08
China imports of Swiss watches totaled 3.8 billion CHF in 2023, down 24%.
09
Complications watches exports rose 10.2% in value in 2023.
10
In 2023, Swiss watch exports to Japan were 1.9 billion CHF.
11
Precious metal watches exports down 5.3% in 2023.
12
EU countries took 12.8% of Swiss watch exports in 2023.
13
Watch components exports valued at 4.2 billion CHF in 2023.
14
France imported 1.1 billion CHF of Swiss watches in 2023.
15
Other metals watches exports surged 30% in volume 2023.
16
In H1 2024, exports value up 3% to 13.7 billion CHF.
17
Men's watches exports down 19% in volume 2023.
18
UK imports of Swiss watches: 1.2 billion CHF in 2023.
19
Total export pieces: 14.6 million in H1 2024, down 14%.
20
Asia-Pacific region 52% of export value in 2023.
21
Singapore as export hub: 2.1 billion CHF in 2023.
22
Ceramic watches exports up 22% volume in 2023.
23
UAE imports: 1.4 billion CHF of Swiss watches in 2023.
24
Germany took 900 million CHF in Swiss watches 2023.
25
Export price for gold watches averaged 128,000 CHF in 2023.
26
South Korea imports 800 million CHF in 2023.
27
Australia imports rose 10% to 450 million CHF in 2023.
28
Titanium watches exports doubled in volume 2023.
29
Canada imports 650 million CHF Swiss watches 2023.
30
Export growth to Middle East: 5% in 2023.
Interpretation

Export Statistics Interpretation

In 2023, Swiss watch export sales rose to 26.7 billion CHF up 2% while the average export price climbed to 25,062 CHF up 17.7%, showing that export growth was driven more by higher value per watch than by volume since units fell 20.6% to 13.6 million.

More related reading

04 · Category

Market Share And Brands20 stats

01
Rolex accounted for 31.8% of Swiss watch exports by value in 2023.
02
Omega brand exports grew by 12% in value in 2023.
03
Cartier held 10.2% market share in Swiss luxury watch exports in 2023.
04
Patek Philippe exports increased 22% in 2023.
05
Audemars Piguet represented 4.8% of export value in 2023.
06
Breitling exports grew 18% year-over-year in 2023.
07
TAG Heuer sales volume increased 14% in 2023.
08
IWC Schaffhausen exports up 11% in 2023.
09
Vacheron Constantin market share 2.1% in 2023 exports.
10
Hublot exports grew 15% in 2023.
11
Zenith brand sales rose 20% in 2023.
12
Luxury segment (>3,000 CHF) was 91% of export value in 2023.
13
Blancpain exports increased 16% in 2023.
14
Girard-Perregaux sales growth 13% in 2023.
15
Jaeger-LeCoultre exports up 9% in 2023.
16
Panerai brand growth 17% in 2023.
17
Chopard exports increased 14% in 2023.
18
Ulysse Nardin sales up 19% in 2023.
19
Bovet exports grew 21% in 2023.
20
Glashütte Original Swiss exports up 12% 2023.
Interpretation

Market Share And Brands Interpretation

In the Market Share and Brands landscape, dominant players continued to pull ahead in 2023 with Rolex leading at 31.8% of export value while Cartier held 10.2% and several challengers surged fast such as Patek Philippe up 22% and Omega up 12%.

05 · Category

Production And Manufacturing19 stats

01
Switzerland produced 17.8 million watches in 2023, down 12.4% from the previous year.
02
Swiss watch production volume fell to 6.0 million units in the first half of 2024, a 17.8% decline.
03
Mechanical watches comprised 52% of Swiss watch production volume in 2023.
04
Gold watch exports fell 1.6% in value but rose 8.7% in volume in 2023.
05
Steel watches dominated exports at 57% of total value in 2023.
06
Women’s watches exports declined 25% in volume in 2023.
07
Production of wristwatches in Switzerland was 15.2 million units in 2022.
08
Mechanical movements production: 1.8 million in 2023.
09
Tourbillon complications exports up 25% in value 2023.
10
ETA movements produced 1.5 million units in 2022.
11
Skeletonized watches exports up 18% in 2023.
12
Brass cases production: 12 million units in 2023.
13
Moonphase complications exports rose 12% in 2023.
14
Chronograph watches production: 2.1 million in 2023.
15
Diving watches exports up 8% in value 2023.
16
Steel cases production: 15 million units in 2023.
17
Perpetual calendar complications: 45,000 units exported 2023.
18
Minute repeaters production: 3,200 units in 2023.
19
Flyback chronographs: 150,000 exported 2023.
Interpretation

Production And Manufacturing Interpretation

In Swiss production and manufacturing, watch output slid from 17.8 million units in 2023 to 6.0 million in the first half of 2024, showing steep declines across the supply chain even as mechanical models made up 52% of volume in 2023.
report visual · Key figures

Swiss watch industry snapshot: scale and economic impact

The Swiss watch industry remains a major economic engine—driven by large turnover and value added—supported by a substantial workforce and export performance.

27.1
Total turnover of the watch industry reached 27.1 billion CHF in 2023.
12.5
Value added by the Swiss watch industry was 12.5 billion CHF in 2022.
47,800
Employment in the Swiss watch industry stood at 47,800 full-time equivalents in 2023.
2%
In 2023, Swiss watch exports totaled 26.7 billion Swiss francs, marking a 2% increase from 2022.
17.7%
The average export price per Swiss watch in 2023 was 25,062 Swiss francs, up 17.7% year-over-year.
Reference

Cite This Report

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APA
Priya Chandrasekaran. (2026, February 13). Swiss Watch Industry Statistics. Gitnux. https://gitnux.org/swiss-watch-industry-statistics
MLA
Priya Chandrasekaran. "Swiss Watch Industry Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/swiss-watch-industry-statistics.
Chicago
Priya Chandrasekaran. 2026. "Swiss Watch Industry Statistics." Gitnux. https://gitnux.org/swiss-watch-industry-statistics.

Sources & references

15 datasets cited across this report · attribution is report-level

fhs.swissmorganstanley.comswatchgroup.comadmin.chpatek.combreitling.comswissinfo.chlvmh.comstatista.comiwc.comseco.admin.chrichemont.comchopard.combovet.comglashuette-original.com