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Swiss watch exports fell in April, as a decline in the US reflected the high comparison base last year’s tariff-driven export surge created.
Outbound timepiece shipments slid 17% to CHF 2.13 billion ($2.82 billion) for the month, the Federation of the Swiss Watch Industry reported Tuesday. The decrease followed a 1% dip in March, as demand slowed in the US and Japan.
“Once again, the performance of the United States set the tone,” the federation said. “The decrease — due to an unfavorable base effect following the sharp rise in exports seen last year in response to the announcement of an increase in US tariffs — had a strongly negative impact on the overall result.”
However, US watch exports showed an improvement versus April 2024, the group pointed out.
“Growth was strong in France — although this does not reflect the real trend in the market — followed by Singapore, China and Hong Kong. Conversely, Japan, the United Kingdom, Germany and the United Arab Emirates recorded significant falls,” it added.
Exports to the US plunged 56% to CHF 372.3 million ($474 million), while those to France increased 46% to CHF 165.3 million ($210.4 million) and shipments to Singapore rose 17% to CHF 154.9 million ($197.2 million). Japan’s orders slipped 12% to CHF 154.2 million ($196.3 million), as China grew 17% to CHF 154.2 million ($196.3 million) and Hong Kong gained 14% to CHF 148.8 million ($189.4 million).
Timepieces between CHF 200 ($255) and CHF 500 ($637) saw an 8% rise, though the other price categories decreased. Watches valued below CHF 200 dropped 14%, while those between CHF 500 to CHF 3,000 ($3,819) slipped 12%. Units that cost over CHF 3,000 slid 19%.
From January to April, exports were down 3.9% to 8.33 billion ($10.6 billion).
Image: A display of Swiss watches. (Shutterstock)
