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Swiss watch exports returned to growth after four months of declines as brands rushed to send inventory to the US after it eased tariffs.
Exports gained 3.3 percent in December from a year earlier, reaching 2.1 billion Swiss francs ($2.7 billion), the Federation of the Swiss Watch Industry said Thursday. The recovery brought total annual watch exports to 25.6 billion francs, a fall of 1.7 percent compared with 2024.
Manufacturers of watches, machines and precision instruments were among sectors hit hardest by the 39 percent US tariff on Switzerland — the highest rate among any developed country until it was reduced retroactively from November.
Still, the current 15 percent import levy is higher than the 2 percent faced by companies before President Donald Trump’s trade measures. Some industry leaders are hopeful for a further reduction.
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The value of timepieces sent to the US, the industry’s biggest market, grew strongly, up 19.1 percent last month, following the tariff cut. Exports of gold and steel watches dominated in terms of materials, with demand holding up despite the raw materials’ soaring prices.
France also recorded strong gains — exports soared by more than 50 percent — while China and Hong Kong were still in negative territory.
Exports in watches priced between 200 and 500 francs saw particularly strong growth, the watch federation said.
By Allegra Catelli
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