Swiss watch exports ended 2025 at CHF 25.6 billion, down 1.7% year on year, despite a strong December rebound. Growth in value was driven by bimetallic watches (+41.2%) and the premium segment above CHF 3,000 (+2.1%), while steel watches supported volumes. Geographically, the US and France led gains, while Asia and parts of Europe declined. The Middle East showed resilience, posting +2.1% value growth despite lower volumes, reflecting sustained demand for higher-value timepieces, particularly in the UAE and Saudi Arabia.