Swiss watch exports surged in April as manufacturers and retailers rushed shipments ahead of potential U.S. tariffs, according to new data from the Federation of the Swiss Watch Industry. Approximately 1.3 million timepieces worth $3 billion (2.5 billion Swiss francs) were exported last month—an 18% year-over-year increase.
The United States accounted for the sharpest rise, absorbing 33% of total exports. Shipments to the U.S. skyrocketed 149% compared to April 2023, reaching $851.9 million—equivalent to nearly one-fifth of Switzerland’s total watch exports to America so far this year. Watches crafted from precious metals, steel, and bimetallic materials saw particularly strong demand.
Analysts attribute the spike to preemptive shipping rather than organic growth. “This surge is clearly tied to the threat of U.S. tariffs, not underlying consumer demand,” said Jean-Philippe Bertschy, an analyst at Vontobel. The Trump administration announced a 10% tariff on Swiss imports in April and has since proposed raising duties to 41% by July 9 if no trade agreement is reached.
Global Markets Show Mixed Performance
Excluding the U.S., Swiss watch exports fell 6.4% worldwide in April. Asia experienced notable declines, with shipments to China plunging 30%, while Hong Kong and Singapore dropped 23% and 9%, respectively. The U.K., Japan, and France saw modest single-digit growth.
Broader Implications for Luxury Trade
The proposed tariffs could extend beyond watches, affecting Swiss luxury automakers—though vehicles over 25 years old would be exempt. Meanwhile, the American wine industry may face collateral damage in a potential trade war, potentially boosting secondary market sales.
As negotiations continue, the Swiss watch sector braces for uncertainty, with the full impact of U.S. trade policies yet to unfold.
Related topics:
- H. Moser & Cie. Teams Up With Alpine Motorsports on New Race-Inspired Streamliner Watches
- This $85 Million Florida Estate Has a Bowling Alley and the Largest Beachfront Cabana in Manalapan
- Pre-Owned Watch Sales Spiked by 160% in April Ahead of Trump’s Potential Tariffs
