Imports from Switzerland run like clockwork

YENER BLACK SEA/ISTANBUL

According to data released by the Swiss Watch Federation, Türkiye's watch imports from Switzerland reached 30.3 million Swiss francs (155 million Turkish Lira) in July 2025. This figure represents a 21.4 percent increase compared to the same period last year. Turkey, with this value, rose four places from 20th place the previous year to 16th place as of July 2025, ahead of countries such as the Netherlands, Canada, Qatar, India, and Austria.

9.5 billion TL worth of watch imports in 7 months

In the seven-month period between January and July of this year, Türkiye's watch imports from Switzerland reached 184.7 million Swiss francs (9 billion 448 million Turkish Lira). This figure represents an 8.6 percent increase compared to the same period last year and an 8.8 percent increase compared to 2023. Turkey, which ranked 17th in watch imports from Switzerland during the seven-month period, rose to 16th this year, and ranked 5th in terms of the percentage increase. In all of last year, Turkey imported watches worth 293.5 million Swiss francs (15 billion Turkish Lira).

Luxury segment dragged watch exports

The Swiss watch industry experienced significant growth in July. Total exports reached 2.4 billion Swiss francs, a 6.9 percent increase compared to the same month last year. Steel watches saw a 9.1 percent increase, while gold and steel models saw a 16.9 percent increase. A total of 1.4 million watches were exported. While the quantity remained virtually unchanged compared to the previous year, the increase in value demonstrated the strength of the luxury segment. Models over 3,000 francs saw a 9.4 percent increase in exports. However, inexpensive watches under 200 francs experienced a contraction. Growth in the global watch trade was driven by high-priced goods and the US market. In Asia, despite the decline, hubs like Singapore and Hong Kong stood out. This figure demonstrates that luxury consumption worldwide maintains its appeal despite inflation and economic uncertainty.

Status indicator in Türkiye

So, what's behind the demand for luxury watches, including in Turkey? According to experts, there are two main reasons for this increase. First, the consumption habits of high-income groups are relatively less affected by inflation. Unlike large segments of society forced to tighten their belts on basic necessities, affluent consumer groups continue to spend on luxury items. Second, Swiss watches are considered not only accessories but also investment instruments. These products, which maintain their value in foreign currencies , are preferred as safe havens in volatile exchange rates. The increase in the purchase of luxury watches in Turkey isn't solely explained by financial concerns. These products also stand out as status indicators in Turkey. Young professionals and prominent business figures, in particular, position Swiss watches as a "prestige element." This trend is increasing the visibility of global brands in the Turkish market.

■ Total watch imports reached 14 billion TL in 7 months

Turkey doesn't just import from Switzerland. However, watch imports from Switzerland dominate the sector in terms of value. According to Turkish Statistical Institute data, Turkey imported $339.2 million (14 billion Turkish Lira) worth of watches from around the world in the first seven months of this year. This value broke the record for the entire previous year at $ 540 million (22.2 billion Turkish Lira). Turkey imported $221 million worth of watches in 2020, $299 million in 2021, $383 million in 2022, and $463 million in 2023.