The manufacturers of Swiss watches exported significantly more timepieces abroad in April than in the same month.
The exports to the USA have jumped up in the course of the customs announcements by US President Donald Trump. In April, Swiss watch exports nominal climbed by 18 percent to CHF 2.55 billion (CHF 2.72 billion), as the Association of the Swiss watch industry FH announced on Thursday. In the first four months of the year, clock exports are 4.0 percent in plus after a slight decline in the first quarter.
Trump tariffs fire exports
Especially in the USA, the manufacturers have exported unusually many watches inside. Exports to the largest sales market attracted CHF 852 million by 149 percent. Measured in Franconia, over a third of the exported Swiss watches of North America were the destination.
The strong increase in the United States is mainly the result of early deliveries that were triggered by the announcement of high tariffs, the watch association states. Donald Trump had shocked the announcement of high import duties in early April, and around 32 percent on Swiss goods.
Demand in China remains weak
The export plus in April is therefore not a sign of a structural revival of global demand for Swiss watches, the association continued. This shows with a view to China, where watch exports decreased by a good 30 percent in April. And other important Asian markets such as Hong Kong (-23 percent) or Singapore (-9.2 percent) also recorded declines.
According to the price segment, the manufacturers recorded: inside of luxury watches with an export value of more CHF 3,000 in the reporting month with 23 percent the strongest increase. But also watches in the cheapest segment at export prices under 200 francs were in demand with an increase of 10 percent abroad.