Swiss Watch Exports Drop, Skewed by 2025 Rush Before US Tariffs

Swiss watch exports fell in April from a year earlier, when companies were rushing to get stock into the US ahead of higher tariffs.

Overall shipments were down 16.6%, led by a 56% plunge to the US. In the same month of 2025, exports to the US jumped 149%. Excluding the US, exports rose 3% in April 2026 and were up 1.7% year-to-date, “which is more consistent with the gradual recovery in the watch market,” Vontobel analyst Manuel Lang said.

Still, the conflict in the Middle East also weighed on the industry, with exports to the United Arab Emirates ...