Swiss Watch Exports Resume Slump as US Rebound Proves Shortlived

(Bloomberg) — Swiss watch exports resumed their long slump in January after a brief respite the previous month triggered by the easing of US tariffs.

Exports fell 3.6% last month from a year earlier to 1.9 billion Swiss francs ($2.5 billion), the Federation of the Swiss Watch Industry said Thursday. Watches in the most expensive category made from precious metals led the decline.

It’s a setback for an industry that was upended last year due to US President Donald Trump’s punitive tariffs. Their retroactive easing from November boosted exports the following month, but the value of watches sent to the industry’s biggest market slumped 14% in the latest figures.

Overall, watches priced above 3,000 francs were down 8.1% in value. There was a 14% contraction in exports of watches made from precious metals, that was not offset by a 16% increase for bimetallic watches.

Exports to China and Hong Kong, meanwhile, rose 5% and 2.6% respectively, a boost for the industry after several months of declines. The timing coincided with the buildup to the Lunar New Year, when brands typically send more inventory for a period of family gatherings and exchanging gifts.

Elsewhere, exports to France soared 37%, but the Singapore and UK markets turned negative, according to the federation.

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