Editor’s Note
This article highlights a significant rebound in Swiss watch exports, particularly driven by strong U.S. demand in April. The surge is contextualized within ongoing industry uncertainty, as brands preemptively adjust strategies in response to potential tariff changes.
After a slight increase of +1.5% in March, growth accelerated to +18.2% in April, driven by strong momentum in the United States.
While luxury brands have been continuously raising their prices in the United States in the face of tariff threats that have been unsettling the industry for several months, American consumers have reacted swiftly to avoid the taxes imposed by President Donald Trump.
Swiss watch exports to the United States surged by +149.2% in April, reaching 852 million Swiss francs.
clarifies the Federation of the Swiss Watch Industry.
The strong momentum in the United States allowed Swiss watch exports to grow by +18.2% last month, reaching a total of 2.5 billion francs. Without the American market, the monthly result would show a decline of -6.4%, still penalized by China and Hong Kong. Exports to China fell by -30.5% to 132 million francs, while those to Hong Kong dropped by -22.8% to 131 million francs. In Singapore, figures decreased by -9.2% to 132 million francs.
The trend is not generalized across all of Asia, as Japan slightly boosted its imports by +1.9% to 175 million francs. In the United Kingdom, export growth stood at +1.6% to 144 million francs.
In terms of segments, watches with an export price exceeding 3,000 francs grew by +22.9%, demonstrating the persistent appeal of luxury timepieces. Exports of pieces priced between 500 and 3,000 francs increased by +5.2%. The same cannot be said for watches priced between 200 and 500 francs, which showed a decline of -1.2%.
It remains to be seen how exports will evolve in the coming months with American tariffs and the still difficult Chinese context. Nevertheless, this rebound in the United States allowed Swiss watch exports to raise their growth to +4% for the first four months of the year.