By Andrea Figueras
Dow Jones-Die watch exports in Switzerland rose slightly in July. The producers again preferred deliveries to the key market in the USA due to customs uncertainties. At the same time, the demand for expensive watches continues to cool down.
The exports of watches that were produced in Switzerland were around 2.4 billion Swiss francs in July, which is 6.9 percent more than in the previous year, as data from the Association of the Swiss watch industry FH show.
Watch exports to the United States rose by 45 percent before the duties of President Trump’s tariffs were introduced. “In reality, it was a measure to build up local inventory, which gives little information about the actual market situation,” admitted the industry association on Thursday. Without the extraordinary US result, the export volume would have dropped by 0.9 percent.
A basic customs of 10 percent has been in place for Swiss watches since April. At the beginning of August, Trump increased the duty to import imports from the Alpine Republic to 39 percent and thus initially promised 31 percent than the administration.
The tariffs are bad news for the Swiss watch industry, FH President Yves Bugmann told Wall Street Journal. However, the United States will remain an important market. Despite the customs effects, Bugmann was confident about the future and the potential of the US market for the industry.
Some luxury brands consider further price increases because of the tariffs, although the clock sector suffers from a turbulent global environment. The United States had turned out to be a ray of hope for the sector, while sales in the long booming Chinese market suffer from the weak economy.
The exports from Swiss watches to China decreased by 6.5 % in July.
The Swatch Group, which, among other things, produces high -quality timepieces such as Omega and Blancpain, reported sales for the first half of the year due to the weak demand in China in July.
The luxury jeweler and watch manufacturer Richemont, which includes brands such as Vacheron Constantin and Piaget, recently recorded a continuing downward trend in his watch business.
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DJG/DJN/Rio/CBR
(End) Dow Jones Newswires
August 21, 2025 05:50 ET (09:50 GMT)
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