While Swiss watchmakers were saved in July by anticipation of the US tariff increase, which came into effect on August 7, they saw a sharp decline (-16.5%) in international sales last month. Their main destinations and all product categories suffered even more, as the month had one less working day.
Swiss watch exports plummeted again in August.
The misleading effect of July, marked by a strategic surge in exports to the United States, was, as expected, a flash in the pan.
July boosted by stockpiling in the United States
A quick flashback: in July, international sales of Swiss timepieces grew by 6.9% to 2.4 billion Swiss francs, according to monthly statistics from the Federation of the Swiss Watch Industry (FH). They were driven by the surge (+45% to 554.5 million Swiss francs) in the US market (after an already spectacular jump of +149.2% in April), with professionals anticipating the increase in customs duties to the very high rate of 39% set by the Trump administration on Swiss products from August 7.
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Read also > Swiss watch exports rebound in July
Featured photo: © Rolex
