By Andrea Figueras


Swiss watch exports climbed in April, propelled by an exceptional increase in the U.S. due to early shipments ahead of the potential implementation of tariffs on imported goods to the country.

Total exports of Swiss timepieces jumped more than 18% to 2.55 billion Swiss francs ($3.11 billion) in April compared with the prior-year period, according to data from the Federation of the Swiss Watch Industry, known as FH. For the first four months of the year, exports rose 4%.

President Trump said last month that Switzerland would be subject to 31% levies on its exports to the U.S. Trump has since implemented a 90-day pause on the measures for countries open to negotiating trade deals.

April's performance was driven by higher exports to the U.S., which were up by around 149%. Excluding the U.S., the result would have been a decline of 6.4%, dragged by shrinking demand in China, a country that once fueled growth for luxury brands and is now facing economic difficulties that have led buyers to tighten their purse strings.

"The sharp rise in exports is therefore more a reflection of a one-off response to an uncertain commercial situation than a genuine sign of a structural strengthening of demand," the industry body said.

This is consistent with FH's previous downbeat projection that global Swiss watch exports should decline again this year given no imminent turnaround in Chinese demand, Citi analyst Thomas Chauvet wrote in a note. As for the exceptional performance in the U.S., this should reverse throughout the summer, he added.

Trends in other key markets showed a mixed picture at a time when the watch sector faces a challenging outlook due to slowing demand for high-end brands.

All key listed players--including Cartier owner Richemont, French conglomerate LVMH, and Birkin bag maker Hermes--reported negative sales growth for their watch divisions in the first quarter, Vontobel analyst Jean-Philippe Bertschy said in a research note.


Write to Andrea Figueras at andrea.figueras@wsj.com


(END) Dow Jones Newswires

05-27-25 0355ET