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Swiss Watch Exports to U.S. Plunge 55.6% in September, Knocking America to No. 3 Market

A 39% U.S. tariff forced a sharp reset in trade flows, reversing pre‑tariff stockpiling.

Overview

  • Switzerland’s total exports in the third quarter fell 3.9% to roughly $84 billion, according to federal customs data.
  • The U.S. share of Swiss watch exports shrank to about 7.9%, leaving the U.K. and Japan as the top destinations.
  • Exports to the U.S. dropped 8.2% for the quarter after importers front‑loaded shipments in July and a further 24% monthly decline was recorded in August.
  • Gains in China, Hong Kong, South Korea and Mexico could not offset the September collapse in the American market.
  • Excluding the U.S., September watch exports would have risen 7.8%, with steel and bimetallic models and CHF 200–500 pieces weakest while precious‑metal and higher‑end watches proved more resilient.