UK Becomes Second Largest Export Market for Swiss Watches
Britain’s relative stability has propelled it to become the second largest market for Swiss watch exports, with a 3.2% increase in sales to the country in March. While the United States remains the largest market despite a slight year-on-year decline of 1.6%, there is an anomaly in the Federation of Swiss Watch Industry's data showing France as the second largest market due to tax advantages linked to re-exports. Overall, the total value of Swiss watch exports decreased by 1% in March but showed a modest increase of 1.4% for the first quarter. The ongoing war in the Middle East has negatively impacted exports to the region, with significant drops to Saudi Arabia and Qatar of 16.1% and 24.8%, respectively. However, the UAE market remained relatively stable with a 0.7% rise. Encouraging signs have emerged from China and Hong Kong as exports to these regions have stabilized after previous slumps, with only minor declines of 0.8% for Hong Kong and 0.7% for China in the first quarter of 2026.
Buying Time Analysis: This story highlights the UK's rise to the position of the second largest market for Swiss watch exports, emphasizing the impact of economic stability and shifting global market dynamics, particularly in light of geopolitical tensions and changing trade relationships.
