Swiss watch exports rose in April, mainly driven by a surge in deliveries to their largest market, the United States, in anticipation of potential tariff increases. China and Hong Kong, however, continued to decline.
This was already the case in March. While Swiss watch exports rose in April, this was mainly thanks to the United States.
According to the Federation of the Swiss Watch Industry (FH), growth across all markets was 18.2% to 2.54 billion Swiss francs and 149.2% to 851.9 million Swiss francs in the US!
Over the first four months of 2025, growth was 4%.
Uncertain business environment
However, this is no cause for celebration. “This peak in exports reflects more of a one-off response to an uncertain business environment than a real sign of structural strengthening in demand. Without the United States, the monthly result would show a decline of 6.4%, still penalized by China and Hong Kong,” admitted the FH.
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Read also > Swiss watch exports rebounded in March
Featured photo: © Rolex
