The Swiss watch industry experienced a sharp slowdown in April, largely due to the collapse in shipments to the U.S. market.
After a particularly difficult first three months of 2026, April is not going to help the Swiss watch export sector : the value of watches and watch products shipped abroad fell by 16.6% year-over-year in April, reaching 2.13 billion Swiss francs. Over the first four months of the year, the cumulative decline now stands at 3.9%.
The United States accounts for most of the decline
The sharp drop recorded in April is mainly linked to developments in the U.S. market. Exports to the United States plunged by 56.4% year-over-year, to 372.3 million francs. This market nevertheless remains the leading destination for Swiss watches, accounting for 17.5% of total exports.
According to the Federation of the Swiss Watch Industry, this drop is primarily due to an unfavorable base effect. In the spring of 2025, shipments to the United States had surged following the announcement of higher U.S. tariffs, prompting industry players to bring forward their deliveries. The comparison with this exceptionally high period therefore weighs heavily on the results for April 2026.
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Read also > Swiss watch exports get a breather in February
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