Swiss watch exports down double digits in April
Swiss watch exports are down significantly year-on-year for the month of April, with total sales being down almost 17%.
This has contributed to a year-on-year decline of 3.88% in sales value across all markets for the first four months of 2026, according to the monthly data released by the Federation of the Swiss Watch Industry (FH).
A massive reason behind the big dip in April was the high base effect for the United States versus 2025, when exports ballooned to over CHF 850 million for a single month, as brands pushed out stock as quickly as possible in response to President Trump’s unexpected tariff announcements in that same month.
It means that Swiss watch exports to the US are down 56% compared with last year, but actually up 9% on 2024’s April figure.
In light of the ongoing issue surrounding gold prices, it’s unsurprising that watches made from precious metals showed a decline of 24.3% year-on-year.
France’s incredible growth (46%) can largely be explained away for the same reasons flagged up previously, namely that the real reason for the booming figures is more about logistical centralisation in Europe, where brands use France as a consolidation point for all of their EU VAT/customs processes, and take advantage of the country’s extensive shipping networks and larger airports.
The better news is the double digit growth of China, Hong Kong, and Singapore, albeit in each case the numbers have benefited from a low 2025 base effect, and are actually still down on 2024’s figure.
