Watches, US tariffs curb exports: -3.1% in September
The US market, the most important market for Swiss manufacturers, collapsed by 55%. Sales of watches in the lower segment fell sharply
Swiss watch exports fell in September. The good performance of important markets such as the United Kingdom, Hong Kong, China and Singapore was not enough to compensate for the large fall in the largest market, the United States, where the tariffs effect made itself felt. Italy remained in the top ten markets, maintaining its tenth place, with a moderate fall.
Total exports of Swiss timepieces in the month amounted to CHF 1.99 billion (€ 2.15 billion), 3.1% less than in the same month last year. Without the fall in the USA, there would have been an increase of 7.8%. In the first nine months of this year, exports amounted to CHF 18.95 billion (€ 20.53 billion), 1.2% less than in the same period last year.
The September figures show four markets within the top ten in the positive and six in the negative: UK 173 million francs (+15%), Japan 158 million (-7%), US 157 million (-55%), Hong Kong 155 million (+20%), China 151 million (+17%), Singapore 133 million (+8%), France 107 million (-3%), Germany 103 million (-14%), UAE 100 million (-0.8%), Italy 92 million (-3%).
In terms of the type of product exported during the month, only the medium-high range had a positive sign. The high range, the one with a price above CHF 3,000, which traditionally leads the way, this time recorded -3% in value; the medium-high range, with a price between CHF 500 and 3,000, had a +4%; the medium range, with a price between CHF 200 and 500, recorded the biggest drop, with -22%; finally the basic range, with a price below CHF 200, recorded -9%.
