In June 2025, Swiss watch exports totaled 2.2 billion francs, down 5.6% due to declines in the US, Japan, and Hong Kong, though the six-month total remained broadly stable at nearly 13 billion francs. Watches made from precious metals and steel, which account for over 75% of export value, fell by 4.4%, while shipments dropped by 123,000 units, mainly from other materials (-29.8%). Most segments declined by 9.7% on average, except for watches priced between 500 and 3,000 francs, which grew 16%. The US market continued to weigh heavily (-17.6%), with Japan (-11.0%) and Hong Kong (-10.6%) also contributing to the downturn. The UK remained stable (-0.1%), while China showed 6.1% growth, though still nearly 30% below pre-property-crisis levels.