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Swiss Watch Exports Rise in July as U.S. Retailers Build Inventory Ahead of Tariffs August 26, 2025 (0 comments)
Geneva, Switzerland--Swiss watch exports rose 6.9% in July compared with the same month last year, according to the Federation of the Swiss Watch Industry, cited by Bloomberg. The growth was almost entirely due to shipments to the United States, where retailers built inventory before higher import tariffs took effect. Without the US, exports would have fallen 0.9%.
[Image via iStockphoto.com]
The report noted sharp declines in exports to Japan and renewed weakness in China. The increase came as Swiss officials lobbied against a 39% tariff introduced under then-President Donald Trump. UBS economists, including Maxime Botteron, estimated that the tariff could reduce Switzerland's GDP growth by up to 0.4 percentage points over the next four quarters.
“Swiss watch-export data remain heavily skewed by the United States, where brands continued to front-load shipments ahead of the Aug. 1 tariff decision,” Vontobel analyst Jean-Philippe Bertschy said, as per the report. He added that weakening consumer sentiment and “luxury fatigue” remain challenges for the sector.
By price segment, watches priced above 3,000 Swiss francs ($3,721) experienced a 9.4% increase in exports. Models priced between 200 and 500 francs increased 7.3%, while those below 200 francs declined.
Learn more in the report here.