After a rollercoaster spring, Swiss watch exports recovered in July 2025. The threat of new tariffs in the United States triggered an artificial surge in shipments to that market, masking weaknesses elsewhere.
A rebound driven by the US market
According to the Federation of the Swiss Watch Industry, watch exports rose by 6.9% year-on-year in July, reaching nearly 2.4 billion Swiss francs. However, this upturn is misleading: without the US surge, exports would actually have fallen by 0.9%. Uncertainty surrounding new tariffs imposed by Washington has prompted brands to anticipate and stockpile heavily in the US, leading to a spectacular 45% increase in exports to this market.
This phenomenon of “front-loading,” already observed in April with a 149% jump in exports to the United States, is part of a defensive strategy in response to the US administration’s trade measures. On August 7, the United States effectively raised its tariffs on Swiss watches to 39%, a level considered “stifling” by industry players.
Marked contrasts between markets and segments
To continue reading this article, subscribe or log in to your account
Discover our plans
- Every day, keep up to date with the latest business news from the world of luxury.
- Receive the essential luxury business news by email every week
- Access all our events
- The Luxury Journals and Luxus Magazine in print and digital versions
Subscribe for 1€
Become an active member of the community of luxury leaders.
Read also > Swiss watchmaking : exports fall again in May
Featured photo : © Rolex
