Swiss watch exports rise 18.2% in April as US tariff preparations boost shipments
Swiss watch exports rose 18.2% year-on-year to CHF 2.5 billion in April 2025, driven by a 149.2% jump in US shipments ahead of anticipated tariff increases. Without that exceptional boost, exports would have fallen 6.4%. China and Hong Kong declined 30.5% and 22.8%, respectively, while year-to-date exports increased 4.0%.
Why it matters: This suggests the export rebound reflects accelerated shipments rather than stronger underlying demand, masking continued weakness in key Asian markets.
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