In March 2026, Swiss watch exports declined by 1.0%, though first-quarter exports rose 1.4% year-on-year to CHF 6.2 billion. While precious metal (-4.0%) and steel watches (-9.0%) saw lower values, export volumes increased by nearly 57,000 units, driven by steel (+5.8%) and other metal watches (+23.8%). The UAE has strengthened its position, now ranking No. 8 globally among importers of Swiss watches in Q1 2026, with imports reaching CHF 316.6 million, up 5.0% versus 2025 despite regional tensions. The U.S. remained the top market, while France surged unusually due to re-exports, and Saudi Arabia declined sharply.